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RECOMMENDING POSSIBLE SOLUTIONS TO REVIVE THE INDIAN TEXTILE INDUSTRY JULY 24, 2009

Submitted By: KUSHAGRA R. LADHA PGDM – FINANCE THAKUR INSTITUTE OF MANAGEMENT STUDIES & RESEARCH, MUMBAI

SIYARAM SILK MILLS LIMITED B-5, Trade World, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai-400013. Website: siyaram.com Tel No. 022-3040050 Fax No.022-30400599

PROJECT REPORT
ON

RECOMMENDING POSSIBLE SOLUTIONS TO REVIVE THE INDIAN TEXTILE INDUSTRY AT

SIYARAM SILK MILLS LIMITED, MUMBAI
Summer Training : 2009

Submitted to:

Mr. Shruti Jhawar Manager – MIS & Treasury Management Siyaram Silk Mills Limited, Mumbai

Submitted by: Kushagra R. Ladha Thakur Institute of Management Studies & Research, Mumbai

Page 2 of 57

ACKNOWLEDGEMENT

It gives me great pleasure to present before you, this project report, assigned to me as part of my summer training at Siyaram Silk Mills Limited.

I express my sincere gratitude towards SIYARAM SILK MILLS LIMITED, for giving me an opportunity to work on this project.

I take this opportunity to thank my respected project guide Mr. Shruti Jhawar, Manager – MIS & Treasury Management, for giving me an opportunity to undertake this project. His guidance has been invaluable to me while preparing this report. He provided me with valuable suggestions and excellent guidance about the Textile industry, which proved very helpful for me to gain theoretical knowledge as well as a clear understanding of the issues of the Indian Textile industry.

Last but not the least, I am thankful to all the staff at Siyaram Silk Mills Limited, my friends, all known and unknown individuals who have given me their constructive advise, suggestions, encouragement, co-operation and motivation to prepare this report.

- Kushagra Ladha
(Thakur Institute of Management Studies & Research, Mumbai (PGDM)

Page 3 of 57

TABLE OF CONTENTS
Sr. No.
1. 2. 3. 4. 5. 6. 6.1 6.2 6.2.1 6.2.2 7. 7.1 8. 8.1 8.2 8.3 8.4 8.5 8.6 9. 10. 10.1 10.2 11. 12. 13. 14. 15.

Contents
Scope and Approach to the study Executive Summary About Siyaram Silk Mills Limited (“The Company”) Case for the Project Study Introduction to the Indian Textile Industry The Industry Analysis Domestic Situation Export-Import Situation Competing countries have outperformed Indian apparel exports to major economies Industry’s import dependence has been increasing Analysis Of Cost Competitiveness Of Indian Textile And Clothing Industry Vis-À-Vis Competing Countries Swot Analysis Of The Indian Textile Industry Analysis of the Government Interventions in competing countries Key initiatives taken by the: Chinese government Vietnamese government Turkish government Bangladeshi government Sri Lankan government Indonesian government Study of the initiatives taken by the Indian Government Analysis Of The Needs Of The Sector And Recommendations Facilitation Required From The Government Efforts Required By The Firms In The Industry Budget 2009-10 Impact on the Industry Conclusion Annexure – 1 (SWOT Analysis Of Competing Countries) Annexure – 2 (Extract Of An Article Originally Published In Textile Review, March 2009) Webliography & Bibliography

Page No.
5 6 9 11 13 14 14 16 17 19 20 22 24 24 24 25 26 26 26 27 32 33 47 49 51 52 56 57

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1. SCOPE OF WORK & APPROACH TO THE PROJECT STUDY
SCOPE OF WORK Scope of this project work is to recommend possible fiscal and non-fiscal solutions to revive the Indian Textile Industry. The Study covers Spinning, Weaving, Knitting, Processing/Finishing, Made-ups and Clothing segments of Textile and Clothing industry.

APPROACH TO THE STUDY Based on the scope of work, the approach to this project is in a logical sequence as follows: 1. Conducting an analysis of the reasons for the study i.e. having a case for the project study 2. Analysis of the Indian Textile Industry and key issues 3. Analysis of cost competitiveness of Indian textile and clothing industry vis-à-vis competing countries* 4....
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