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New technologies, cost-effectiveness to boost Indian textile business

Raghav Sharma Director New technologies cost effectiveness to boost Indian textile businessHaving 15 offices and 500 professional employees across India, IIGM is India’s leading technology and service provider. The company, which recently participated in the GTE exhibition, offers embroidery, CAD systems, sewing, automation or cutting. To this, the company recently added new products like exhaust fans, cooling systems, electrification for machines. Raghav Sharma, Director of the company expounds on its operations and the Indian market.

Being extremely price conscious, Indians prefer investing in something viable. “For that we are conscious of bringing in cost effective yet credible technology, as we increasingly realise the need to adopt new technologies and systems in Indian Textile space is real now. This can be practically calibrated through the various loan schemes available in the market to facilitate,” views Raghav Sharma, Director, IIGM.

Sharma believes that though the current US-China trade war is affecting business, things will get back to normal soon. “The current economy environment is tough. Yet, companies need to find business which is currently shifting from China to other countries like Vietnam, Cambodia, Bangladesh though it has its own set of challenges,” he opines.

Amidst all this chaos, India retains its position. “Though we are not growing, our business is stable. One of the reasons we are not getting new orders is because we are not adopting new technologies or systems. A big price war among exporters is affecting our profit margins. We need to be more cost effective and adopt new technologies sooner than later,” Sharma states.

According to Sharma, GST implementation has made the domestic market more organised. “Business in MBOs is picking up as people are spending on apparel and fashion. Exports have stabilized. However, the industry has a long way to go in terms of compliance to global industry standards,” he says.

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