Textiles giant Trident Group plans to embark on a Greenfield expansion in India with an investment of Rs 1,000 crore earmamred in FY26 towards sustainability, modernization and asset enhancement initiatives.
Samir Joshipura, CEO, says, India is rapidly transitioning into a quality and brand sourcing hub with its domestic consumption also projected to increase significantly. The country is going through a transition from a so-called low-cost sourcing hub to a high quality and brand sourcing hub at the macroeconomic and global economic level, he adds.
The domestic consumption story puts India on a different trajectory, not comparable with other low-cost sourcing countries, Joshipura states. The Trident Group is conscious of the projected shift in demand between now and 2047, when India is projected to become the third-largest economy and in which direction the group needs to invest, he adds.
Currently the group’s business in India is valued at around Rs 500 crore but is set to increase significantly, Joshipura adds.
Of the company's top-line revenue of around Rs 7,000 crore, the textiles segment accounts for around Rs 5,500 crore to Rs 6,000 crore, with non-Indian business accounting for around 85-90 per cent and the US being the largest market.
Currently, India is a relatively small market with a only a few brands in the home textile segment compared to developed markets like the US and Europe, adds Joshipura.
