https://youtu.be/m8E2VE6kf0U
- The initiative that you have taken on leadership is commendable we have seen a lot of people making statements, last year Jockey made strong statement that we have to achieve more market share in India and it is possible.
- Aditya Birla was aggressively coming into inner wear segment what do you feel about what will happen to the entire industry . brands, manufacturers, retailers, wholesalers what advice do you have for everyone what is your take on it and in short an advice for everyone
Rakesh Grover : We are really going through tough times now and I am glad we have our prime minister Shri Narendra Modi who is nurturing our nation and he is handling the situation very well and we are confident that our country is into great hands and he will soon get us out of the situation today IAA is going through very difficult times and there is a lot of uncertainty and there is a lot of tension how the sales will happen how the payments will happen what will happen in the future. I would like to say today this is our testing time .we have to make ourselves strong and I am confident if we support each other and move forward we will surely get out of this problem. Today it is necessary that entire industry comes together and support each other. Today the problem is same with everyone we will never be able to fight in this alone. By taking advice from each other supporting each other we can move forward I am sure we will come out of this situation. From our association IAA there is a lot of representation that has gone to the government in which we have asked for a lot of relief packages and I am hopeful the government is seriously thinking over it because as previously said 40 lakh people are employed In our industry that’s why we have asked government for a lot of relief in terms of socio economic packages, GST,Lower interest rates for at least 1 to 2 years and I am hopeful the government will listen to us . This is only possible if we all are into it together one person speaking up for it won’t resolve the problem if we all come forward together I am sure the government will also come forward in this to us and we will get out of the problem. All the retailer’s, supplier’s and wholesalers and distributers have to come forward together and understand the situation and help each other and also we will have to do introspection we have to bring a lot of changes in our working scenario we have to be a lot more disciplined and I would like to request any business or any industry works only until its velocity is maintained. It is our prime responsibility to maintain its velocity. If the velocity stops in the fear of if we will be able to sell the products or not. If we start thinking about all of this then the velocity will stop. If the velocity stops the situation that we are trapped in it will be a lot more difficult to come out of this.
Basesh Gala : your message was very beautiful that the body is trying its best from the association to represent ourselves to the government and about velocity if we keep supporting each other there will be a positivity in the moment and the industry will be able to move forward so thank you so much sir .i would like to give a special welcome to Shekhar Tiwari who is CEO of Enamore lingerie my next question is to Sanjay jain who is the MD of TT Industries innerware in the past he has been active in a lot representation and a lot more activity in government representation and also IIM Ahmedabad gold medalist .sir my question is very specific you are in touch with Textile ,Finance ministry so are you getting any insights from there what the government is up to are they planning something for us and what will happen after the opening
Sanjay Jain: Thank you bashesh and IAA for organizing this. Today’s time is very difficult you and Rakesh have elucidated it very well. In the past days where we have been discussing a lot with the government in fact in the past 10 days there has not been day where we have not discussed with them or sent them any letters. Of course all of this is unofficial this is my guess estimate I cannot comment on what exactly government will do but I can say that government is actively considering around 2 days before on the group we had a discussion with our honorable textile minister Mrs. Smriti Irani where we had our discussion where there were all local associations, export promotion council were there they have made various committee for various finance. There are a lot of discussion going on in the finance ministry and industry of commerce ministry packages are under process they are working on the packages. According to me next week we should expect some announcement. This time if we see rather than getting a moratorium from RBI the industry haven’t got anything directly so this expected to come out next week .The two important aspects that we are thinking on and the government as well . The government has asked for the details of the employees who is working where so that they can benefit from the schemes definitely small retailers and wholesalers won’t be benefited from this. You must have heard the interest rate has been decreased by the RBI, however banks have not declared anything yet the government is in complete touch with the banks and are working on it. Audits have been pushed till June we are hopeful it will be extended till October very very soon. Liquidity will surely come in. However we are very strongly demanding that loans are given without security of quartered. if we have to maintain velocity in business we will need money and it is important to pay our vendors to customers . I am very happy that during this time also retailers and wholesaler some of them are doing payments.
Basesh Gala: Mr. Rajkumar, you are popularly known as socks man people who are closer to you tell you that your brain is even faster than a computer so in your 2020 business plans and strategies how many disruptions do you see coming. What are your advice to the people in industry how do they survive this and maintain their goals?
Rajkumar Jain: I feel this period we are going through is nature’s way of creating discipline among us. This period is given to us humans to think responsibly. Planet earth needed revival. Yes business will be affected comparatively textile impact will be less. My advice to all the people part of this industry is that you can come out of this problem easily we should progress towards product development. The process of thinking after lockdown will change completely after the lockdown. Health related concerns will increase. Yoga, diabetes or any problems regarding health should be our main concern here. We should think of more cost cutting measures. We should bring in automation. We should keep our staff attached. For people who use to work daily to suddenly having no work to generation of today who can’t sit ideal. Online training should be given. To them and talk to them regularly. Logistics should be improved. Our efficiency will be increased. On a world level we will be able to come up with better product and less time consumed. Retailers particularly what they to know the customer need will make sure that the product is delivered particularly to their house. I am very sure not only India but our textile industry will grow ahead with great numbers.
Basesh Gala : what will be disruptions in traditional and modern business
Hitesh Ruperelia: Clear inventory backlogs and for the business and manufacturing process to go normal it will take time. There will be a bigger challenge to how to handle factory workers. Offline stores will hit the demand. first consumption on lingerie and hosiery will increase in neighborhood stores we will essentially tell them to stock up their stores. Home delivery has to be given social distancing has to be maintained. Neighborhood stores will be able to capitalize the fund after the demand hits. Online cart are filled but the chain is disrupted it is unpredictable they will take time to come over it. Last demand will hit malls which is considered luxury but there is nothing luxury in today’s market. The demand will drop by 10 percent to the max 15 percent it is not a big thing on a scale of 5 years. Demand will impact 30 to 40 percent.
Basesh Gala: you are known as a dynamic leader with extreme positivity. You are an extreme positivist. There is an anti-china sentiment to boycott china do you think this sentiment will sustain longer and make in india will be able to grow stronger or is it difficult
Sunil Pathare : historically after MahaBharat people thought world would finish same after world war but after that a revolution occurs a boom comes in . the thing about if I see on this panel if we have the infrastructure we can beat this but at this point of time the need is the government association trade if we collaborate together to utilize this time together positively the make in india label is possible in this time consumer, trade, world market sentiments will be a lot necessary for make in India . We all have to come out of this positively.
Basesh Gala : Middle men and salesman will be affected highly from this crisis any tips to maintain the chain .
Sandeep Sekseria: Necessity is the mother of invention. Human adopts to the changes based according to the times. Wholesalers are facing issues like liquidity, fixed expense, demand and supply. Liquidity is evaporated completely. The priority today is food and health. People need labour to carry out supply. What is the solution we should get to banking exposure? They have immediate credit. Rationalize cost invest fast moving item. Have a reliable supplier. Filter your retail base. Efficiently manage those
Basesh Gala: You are CEO of India’s premiere lingerie brand enamor. Premium brands will take a hit people will have value for money or save money to conserve cash flow what are your insights on this.
Shekhar Tewari : it will create short term disruptions . It will take time to come up. The bigger issue is a fallout of this on economy on a bigger level. Job sector will be affected. All consumers will be affected. All of us live in present but borrow from future so when we all have that fear. Talking about premiere brands yes it will affect but actually open up opportunities for some brand. I will take an example of my previous brand heils when 2007 a downtown was hit it was primarily a wall mart, kmart brand target brand but we got opportunity because consumers were looking for greater value. There are set of consumers who go to their set of trusted brands so if you are a set of that trusted brands then there is possibility you will benefit. We are hoping to get out of this and grow out of this.
Basesh Gala : 40,000 crore revenue from the last 15 years growing by 15 percent .directly employees over 60 lakh people and indirect revenue to many .what is your message to government and political leaders.
Syed Shehwaz : nobody’s is saved from this crisis . The sign is we should not depend on china and contribute towards our nation as a whole. You should contribute making mask. We should support khadi .
Rakesh Grover : government should support us in schemes where we do not promote Chinese made products and support Indian manufactured products . Garment industry should receive support in policies where we can generate employment and be great exporters like china .
swadeshi should be introduced its high time we should be proud it . Make in India should be made strong. Today Indian textile industry to become a world giant there is no better opportunity than this. Increase sampling Chinese products and production we want to get out of china. If immediate action is taken we can double our exports and leave everyone behind we have such capabilities and raw material. Chinese products enter India through Bangladesh without any duty.
Representation to the government is needed. We need to send in realistic suggestion to the government. We need to enlarge our manufacturing setup for that we need government support.
