Indian textiles will gain from the protectionist stance of US President Donald Trump against China as the country is the largest cotton manufacturer in the world and has the advantage of surplus cotton compared to others, Altaf Jiwani of Welspun India told CNBC-TV18.
Indian textiles will gain from US President Donald Trump's protectionist stance against China as the country is the largest cotton manufacturer in the world and benefits from surplus cotton, says Welspun India's Altaf Jiwani.
Speaking to CNBC-TV18, Jiwani says the company is likely to maintain 22-23 percent operating margin over the next 2-3 years.
The innovative products pipeline is growing significantly 36 percent revenue contribution, he says, adding, the recently-launched Hygro Cotton business is receiving good response and has reached USD 200 million on an annualised basis.
The company is increasing its rug manufacturing capacity at Vapi to 10 million square metres from 8 million by end of this quarter.
The company posted 3.9 percent year-on-year increase in Q3 revenue to Rs 1,500.9 crore, while profit was down 16.2 percent at Rs 149.4 crore.
Watch videos for more ...