Mobile data traffic in the country is expected to grow the fastest globally at 15 times by 2021, according to a report. The country also grew the most in terms of net additions in mobile subscriptions during the March quarter at over 21 million, followed by Myanmar and Indonesia with 5 million net additions each and US and Pakistan with over 3 million net additions each, the Ericsson Mobility Report said. Between 2015 and 2021, the number of IoT connected devices is expected to grow 23 percent annually, of which cellular IoT is forecast to have the highest growth rate. Of the 28 billion total devices that will be connected by 2021, close to 16 billion will be IoT devices, the report said.
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.
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.
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.