Bottoms Out Recession
As reports percolate in with regards to World Economies and the
recession, one cannot help, but cheer after a long grind. The mood
definitely seems upbeat with leading business chambers opining that the
worst has been left behind the global economy on the release of GDP
data. India Inc. today sees the signs of a turnaround in the economy
with GDP showing a growth of 6.1 per cent in the first quarter of the
One eminent business chamber in particular states that with the global
recession bottoming out, we can expect sectors such as trade, hotels,
transport, communication, and manufacturing to
accelerate the pace of growth in the coming months. The chambers
opinion that the growth on sequential basis from 5.8 per cent in the
fourth quarter of 2008-09 to 6.1 per cent in first quarter of the
current fiscal indicates a turnaround in the economy, and this comes as
good news to the crisis hit textile industry.
The economy shows improvement despite the weak performance of the
agriculture sector. This shows that the stimulus measures taken by the
government are yielding results, and this should continue for some
time. With such measures in place, the economy should gradually bounce
back as sectors like steel and real estate have started picking up. The
timely interventions of the government through fiscal and monetary
measures are helping the economy recover from the global crisis.
Large textile firms are gearing up to increase production after almost
a year- long lull, on the back of a revival in international orders. In
times when domestic consumption and international consumption has come
to depend on pricing, innovation stands at the fore of every agenda. In
the coming months, exporters are predicted to book more orders. The
demand for domestic consumption cannot be lagging far behind. There
could also be a shift of focus from the export market to the domestic
market in the near future with the increase in demand for specialty
products such as technical textiles, etc.
Newer infrastructure essential for growth continues to be put into
place in India, and the world over. This has inspired and spurred
profitable activity in many hidden nooks and corners of the industry.
With innovation constantly on the forefront of economic activity,
growth as a result seems inevitable.
Following trends, and implementing strategies as and when required,
Vertex Spinning Limited continues to grow positively into the future.
The newer projects including the Vertex Integrated Textiles Park are
bound to create opportunities to grow sustainably. Spearheading the
south bound movement, Vertex Spinning Limited continues to lead the
textiles industry into the new post recession era.
Nearer into the future, expansion seems but the only option. Keeping in
mind the China textiles pricing issues, and the gradual shift of UK and
US textile manufacturers towards outsourcing production and textiles
trading, Vertexs strategy has been modified slightly to include the
elements and scope of textiles trading operations. This confirms the
flexibility of Vertex in search of newer avenues.
VERTEX SPINNING LIMITED continues to be known to constantly inspire and
be inspired to scale newer heights of performance and human potential.
This experience may be felt not only in the decision making process,
but also in other activities that create value.
With the patronage of Customers, Bankers, Financial Institutions,
Marketing Associates, Shareholders, and the dedication of the Vertex
team, Vertex Spinning Limited commits to continue to strive to be able
to fulfill the dreams of millions.