Kishore Biyani wants to take his group's revenues from Rs 18,000 crore now to Rs 1 lakh crore by 2021, eyeing a jump of almost six times. Biyani is looking at a compounded growth rate (CAGR) of 33 per cent. He believes even if 10 million people shop for Rs 100,000 each every year at his stores, it can get him to Rs 100,000 crore. It has grown a CAGR of 10.18 per cent between FY11 and FY15. The organised retail segment, which is eight per cent of $550 billion Indian retail, has grown about 25 per cent CAGR in the past five years and expected to grow at a similar clip in the next four years, according to Technopak estimates. Biyani wants to fund the growth through internal cashflows and not through debt. Biyani, it appears, is aiming to grow faster than the largest retailer - Mukesh Ambani's Reliance Industries - which has grown at a clip of 54 per cent CAGR over the past five years and overtaken Future Retail as the country's largest retailer. Reliance Retail, which had set a target of Rs 50,000 crore by 2016, posted a turnover of Rs 17,640 crore in FY15.
Textile major Raymond is planning to cut about 10,000 jobs in its manufacturing centres in the next three years, replacing them with robots and technology. Explaining the move, Raymond CEO Sanjay Behl said the company employs over 30,000 staff in their 16 manufacturing plants in the country. "Roughly 2,000 work in each plant to scale down the number of jobs to 20,000, through multiple initiatives in technology. One robot could replace around 100 workers. While it is happening in China at present, it will also happen in India," he said, adding that the sector was very manpower intensive.
“ By fiscal year 2020, we will be the top three credit card players of the country with 15-18 % market share,” said Pralay Mondal, senior group president of retail and business banking of Yes bank. Yes Bank will be offering interest rate of minimum 1.2% per month on its credit cards for which high networth customers are eligible. The industry average stands at 3.4% per month. As on March 2016, there are 24.50 million credit cards in the country with HDFC Bank Ltd. leading the chart at 7.28 million, followed by ICICI Bank Ltd at 3.65 million and SBI Bank Ltd at 3.62 million. Mondal said that “market share is skewed which provides opportunity for us. The current credit penetration is 2% in the country which is expected to be 5% in next five years. The incremental 3% growth provides huge opportunity for new players like us.
India is the world’s second - largest textile producer after China. It has a large raw material base and Capable of producing a wide variety of textiles and end products. India has one of the most cost competitive textile manufacturing base for all types of products across the entire value chain. Labour cost in India is lower than most of the competing countries except Bangladesh, Ethiopia and Kenya. Although power cost is on the higher side but still cheaper than China and Cambodia. Buyers look at India as the next alternative of China as it offers big domestic market, better adherence to compliance and political stability. Government of India, National Textile Policy, vision Document projects Indian textile and apparel exports to grow from $39 billion to $300 billion by 2025.
Textile industry in india provide 21 percent employment (105 million – second largestemployment provider next...
The Economic Survey 2015-16 has stated that India has emerged as the fastest growing economy among other economies. India has become a dream market for most marketers across many products segments. In textiles and apparel specifically, domestic consumption has grown at over 13 percent per annum over the last five years, fuelled by the demographic advantages of India’s population, increasing urbanization, growing disposable income and higher marked penetration of organized retail. India’s export of textiles and apparel has also grown at over 11 percent in the last five years. The Ministry of Textiles is in the process of redrafting the new Textile Policy 2016 which is likely to offer impetus to the Industry to grow further.
Moving forward,by investing a sizeable amount of capital to expand production capacities and producing value added products, the Company aims to increase the share of retail sales to 70% from a current 32% of its turnover in 3-4 years. Just recently, Kohlberg Kravis Roberts (KKR), one of the largest Private Equity firms globally, showed their faith in our story by supporting us upto Rs. 520 crore through structured debt. This is a strong validation of our transformation strategy and our long-term goals to shift our business model towards the retail segment and become a foods company with dominant brands. We believe that this relationship would evolve over a period of time.
Global direct selling major Amway has been asked to remove two of its products from sales by the apex consumer commission, which also slapped a fine of 1 lakh rupees on it for allegedly wrongly branding its products. The National Consumer Disputes Redressal Commission (NCDRC) asked Amway India Enterprises Pvt Ltd to remove Amway Madrid Safed Musli (Apple) and Kohinoor Ginger Garlic Paste from the market within six weeks.
New Delhi, Nov 17 (PTI) Regulator Sebi has banned Swarnabhumi Agritech India Ltd and its four directors from the securities market for at least four years and has directed...
USFDA issues waring letter to Lupin's Goa, Indore plants The US Food and Drug Administration (FDA) has issued a warning letter to Lupin for violation of current good manufaturing practice...
Global software and Cloud major Oracle is expecting a phenomenal 10-fold growth in its India businesses by 2020 as the country holds an enormous market opportunity for its bouquet of Cloud services, a top company executive has said. “Cloud will be an enormous market opportunity for us in India. My expectation is to become 10 times the size we are now in India by 2020. Actually for us, it is the single largest growth potential country,” Oracle Global CEO Safra Catz said at the ongoing Oracle OpenWorld (OOW) 2016 conference here. Catz, who visited India in April this year, promised $400 million worth of investments in the technology hub Bengaluru, with announcing the first “Oracle Startup Cloud Accelerator” in the city. She also announced nine regional software and technology incubation centres across the country and an initiative to train over 500,000 Indian students every year. Oracle has been in India for over 25 years and during that time we’ve grown our investments tremendously. In fact, India now represents our second largest employee base outside of the US, with nearly 40,000 current employees and an additional 2,000 current job openings.
For several years, India has enjoyed the position of being the second largest producer exporter of textiles in the world largest being China. The good news for India is that due to rising labour costs, China is gradually losing its competitive edge. Other factors contributing to the downfall of China’s textile exports include appreciating currency value, rising material & energy costs and a high focus on the domestic market. The decline in China’s market share in textiles provides an opportunity for India to excel in this sector.The Technology Upgradation Fund Scheme is anticipated to render a growth of 11.5 percent in cloth production, 15 percent in value exports and an additional employment of almost 15.81 million workers.