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Arvind focuses on multipronged strategy for its growth

Textile major Arvind focuses on multipronged strategy for its growthand intends to become a strategic partner with its customers, a top company official. Chairman and Managing Director Sanjay Lalbhai says that the company’s strategy is to build on four planks that is sustainability, innovation, verticalisation and multi-fibre.

He further says that sportswear is the fastest growing segment and clothing is going to become "intelligent". The company have identified ten major buyers and are making large amounts of fabrics.

Lalbhai, however, says that the textiles industry has got the flexibility in the labour laws it was looking for. One of the biggest problems was the labour laws and luckily it is a concurrent law. All the progressive states have given us the flexibility that the company is looking for. There are fixed term contracts available. There is no need to have a labour liability on your balance sheet, headded.

He also mentioned that in the world market, Indian textiles industry is competing with Bangladesh, Sri Lanka and Pakistan. These three countries have free trade agreement with the European Union (EU). As per him the country should sign a free trade agreement with the United Kingdom in order to boost textile exports. Further a competitive and logical exchange rates could be an enabler for the industries.

 
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