Economy

Textile firms’ body takes problem-solving to the next level

LN Revathy Coimbatore | Updated on February 25, 2020 Published on February 25, 2020

Indian Texpreneurs’ Federation seeks to spot pain points and offer remedial measures

While industry associations by and large take up their members’ grievances with the government and seek intervention, the Indian Texpreneurs’ Federation (ITF) chooses a different line.

Besides taking up such issues with the government, it looks at what went wrong and why, and sets for itself a mission for each year.

“The government no doubt will remove the friction; but policy decisions take time,” said Prabhu Dhamodharan, Convenor, ITF. “Entrepreneurs need to act much sooner, especially in this highly competitive environment. So we do a comparative analysis of the issue with member mills to identify the pain point and initiate remedial measures. Technology, for instance, cannot be wished away today but without proper training it cannot be put to beneficial use. We focus on specific areas to improve the overall business performance of the industry in the State.”

The ITF represents spinning mills and garment units based in Coimbatore.

Mission for 2020-21

Last year, the ITF focussed on improving the manufacturing and energy efficiency parameters of the textile sector, said Dhamodharan. “Our mission for 2020-21 is to push standalone spinning mills to move up the value chain, help create value through sustainable initiatives, appeal for support to resolve working capital issues, empower people and unleash their power,” he added.

Elaborating on each of the focus areas, he said: “There is a clear trend of differentiation in margins between standalone spinning mills and semi-integrated/integrated units. The integrated units do better than the standalone ones and the difference ranged between 250 and 300 points in the bottom line (before taxes and appropriation). Within our member base of 87 lakh spindles, only 20 per cent have built integration as a business model.”

To help members move up the value chain, ITF will be setting up an advisory cell with industry and external experts, Dhamodharan said.

Developing sustainability

On the sustainability and value creation aspect, he said the textile sector has developed all the major aspects of sustainability, such as zero liquid discharge, efficient water management, waste reduction, use of renewable/green energy and energy conservation practices. “We have formed a committee to study the positive aspects of the sector for branding and positioning the units here as the most sustainable cluster in India,” said Dhamodharan.

On empowering people, he said: “Since the initiation of the ITF Leadership Academy last year, the Federation has imparted training to 400 managers and supervisors. The training has helped bring about a huge transformation. We have therefore decided to extend the leadership training series to 1,000 managerial and supervisory employees to create a happy workplace.”

Published on February 25, 2020
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