Diwali is usually a peak season for the textile industry, which was good this year as well, says Kulin Lalbhai, Executive Director at Arvind Limited. However, he added, Indian demand continues to be a little challenged.
Speaking to CNBC-TV18, Lalbhai said, “Indian demand continues to be a little challenged. Diwali is usually good. But in general, the theme remains that the demand continues to remain subdued.”
Lalbhai, Director at Arvind Fashions further said, “The lower price points are usually under pressure. However, the premium price points are doing relatively better (for the industry).”
Arvind Fashions (AFL), a lifestyle company, has flagship brands like US Polo Assn, Arrow, Tommy Hilfiger, Calvin Klein and Flying Machine.
Commenting on inflation, he said, “The inflationary pressure is creating some sort of demand depression which is the challenge. There is no inflationary pressure in the textile value chain at present. Cotton prices are flat (in the domestic market) and also, it's not high globally. In addition, there is no increase in other production inputs today. There is no cost inflation impact.”
He added that in the last six months, there has been a deflation on the cost side of textiles.
