Ravindra Jain, Ashish Baid
Directors Oswal Prints Private Limited
A better GST judgment possible once foreign trade policy is announced
Oswal Prints Private Limited has been manufacturing and exporting ethnic womenswear or indutvas since 1998. The company's offerings include all kinds of dress materials for salwar kameez, suit dupatta, chudidar and other womenswear. Ravindra Jain and Ashish Baid, Directors, Oswal Prints Private Limited share their views on the Goods and Services Tax (GST), National Textiles Policy, and also give suggestions on improving the state of the textiles industry in Surat.
Tell us briefly about the journey of your company. What was the beginning like, who are the founders, the initial seed money, and the milestones achieved?
Oswal is a well-known brand that was established in 1998. Under the brand name 'Premium', it offers a stunning variety of fabrics, each creation being a piece of beauty. Oswal has managed to deliver quality products at competitive rates. Oswal is constantly looking forward to increasing its horizons in regions like Afghanistan, Pakistan, Dubai, the UK, Russia, Thailand and African markets to widen its export operations.
A lot of textile traders in Surat recently protested against the GST. What are your thoughts on this? Can GST be a game-changer for the Indian textiles industry?
As per the current taxation, we expect that genuine traders are satisfied in the local textiles industry. But for exports, it will be depend on the foreign trade policy (FTP) to be announced in September, and then we can make an appropriate judgment about GST.
What are your expectations and suggestions for the National Textile Policy (NTP)?
The future for the Indian textiles industry looks promising, buoyed by both strong domestic consumption and export demand. With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade. This industry will continue to explode, and favourable schemes will give the industry an extra push.
What are the steps taken by your company to ensure a smaller carbon footprint?
At Oswal, we ensure quality products at competitive rates in the committed delivery period.
What are the five drawbacks that Surat needs to work on to emerge stronger and draw global attention to its advantages as a sourcing destination?
We have drawn from several sources in manufacturing our products for customers. Talent, commitment and mobility will be the way forward.
How big is the market for ladies dress materials? At what rate is it growing?
The market for ladies dress material is bigger for classic products.
Which are your major markets for ladies suits in India and abroad?
We supply suits to countries like Afghanistan, Pakistan, the UK, UAE and Thailand.
What is the annual production capacity of your unit?
Our annual production capacity is above one crore metres.
From which regions do you face competition?
We face competition from countries like Afghanistan, Pakistan and the UAE.
Do you plan to sell fabrics online and get into B2C?
We are doing that through our sister concern in this field under the brand name 'Ethnicbasket'.
What are the future plans at your company?
We plan to expand our products and spread our business in all countries.
Published on: 04/10/2017
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
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