Dwarkesh Ved
DGM Cotton Waste Parekh Textiles Pvt Ltd
There is large demand for cotton & polyester waste in India
Starting its operations more than 30 years ago with cotton waste, Parekh Textiles Pvt Ltd has grown to become one of the largest trading houses in southern India. Though a major supplier of cotton waste, the company also trades in spinning waste and in all varieties of polyester, polyester viscose, denim and other synthetic wastes. In a chat with Fibre2Fashion, the company’s DGM Cotton Waste Dwarkesh Ved discusses the market scenario in light of recent global developments.
What kind of impact has the Russia-Ukraine crisis and US-China trade war had on the cotton industry?
Due to the sanctions imposed by the US and EU, there is a large demand for textiles and apparel to be met in Russia. But China being the primary exporter will greatly benefit (Russia gets 43 per cent of its textile imports from China). India, on the other hand, may not reap substantial benefits as its textiles export to Russia is quite low.
Due to the US-China trade war, India’s export to the US has increased multi-fold. As a result, India’s already strong market share in terry towels and bed linens is only growing stronger. In FY 2022, the US imported textiles worth $3.8 billion from India.
How do you see the economic crisis in Sri Lanka impacting Indian textile exports?
India has already started benefitting from the Sri Lankan economic crisis, as it is receiving textile import orders from the UK, UAE, Latin America, etc. The ongoing turmoil in Sri Lanka is making it difficult for textile-garment units there to function normally.
How is the demand for cotton versus polyester?
As India is the second largest producer of cotton, there is a large supply which makes its utilisation cheaper. Also, the demand for cotton is greater than polyester in the market, which indicates that there is greater utilisation of cotton in the country.
Where do Indian textile and apparel manufacturers stand when it comes to utilising cotton and polyester waste?
There is a large demand for both commodities in the Indian market.
Who are the major customers for cotton waste, MMF and polyester waste?
The major customers for our company are denim and terry towel manufacturers.
What is the difference between Pima cotton, organic and Fairtrade cotton waste? What are its applications?
Pima cotton is produced in the US. It is of the highest quality in terms of length and strength of the fibre and is majorly used by bed linen manufacturers. Organic cotton is used in apparel and is a growing trend, and as the name suggests, it is produced organically which is good for the environment and health of the people. Fairtrade cotton refers to the cotton produced according to the standards set by the FLO (Fairtrade Labelling Organizations International e.V.) and there is no major difference in the type.
What are the major challenges you face when dealing with cotton and polyester waste?
Cotton is a natural fibre that has a lot of variations; thus, it is highly uncertain and also has chances of contamination. On the other hand, there are no actual challenges with polyester as it is a man-made fabric and can be produced according to the requirements of the buyer.
What would be your suggestions to the government to boost development in the textile sector, especially in your niche?
The government can help the industry by improving the data and statistics available. It should also work towards giving the subsidy amount sooner to improve the planning and functioning of the industries.
What has been your growth story for the last two years? What is the target set for the next two?
From July 2020 onwards, the cotton and cotton waste market has been bullish. Over the last two years, our company has had a turnover of ₹762 crore. And in the next two years, we aim to achieve a turnover of ₹1,000 crore.
Published on: 10/08/2022
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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