Recently during CEO Conclave in Hydrabad, topic for discussion was as per title line. Perception of the industry contributors is “our industry is not very lucrative to invest with less profit margins”. We need to revive, rejuvenate with rethinking and re strategize on current industry strategies.
Few key points discussed:
Market; whether to Focus on Domestic or Exports, what is more lucrative in profit, which state providing more incentives, which market gives more freedom and creativity etc. So many questions which confuses the industrialist and start-up companies, where to head on? Solution is
within the company and within self.
Production ; whether to Outsource, Scale- up or import, which state policy giving more ease of doing business with responsible and committed business plan. Is Scale the only solution when current manufacturing is over capacity in few segments, few clusters are crying and shutting down their units? Why not Clusters can be optimum utilized with effective cluster development strategies. Need of the hour is current industry to prosper to motivate new investor to enter.
For marketing, logistics, skilling many units using Hub and Spoke Model which is benefiting to industry, as it reduces production cost and reduces attrition rate. Every state having Textile policy, Investor needs to take maximum opportunity/ advantage to make a right choice and invest in the right state as per their customers and work culture of the business.
Research and Innovation is the only key to mark our remarkable presence in globe. Our industry is comprises of 90% SME’s which don’t have enough financial capacity to invest in research. Few organized sector players only investing in research and innovative thinking. For Disruptive innovation, we need introspective approach with less attachment to business, which opens the doors of creative vision and unlimited opportunities.
Human Resource ; need to be trained, skilled and make them aware about the quality requirement and importance of their presence in the company’s profitability and get motivated to create value to the organization. We wish industry to renovate their business with re-strategies for positive
incremental growth.
Wish you Productive Budgeting and Financial Year closing…!
