texfash.com: Gherzi operates globally. Tell us how does Gherzi look at India? How do you see India as a textiles apparel market? And how do you see India as a textiles apparel manufacturer, besides cotton, of course?
Giuseppe Gherzi: We started our operations in 1960 in India and we have seen the transformation of the Indian textile industry. Yes, it did start with cotton and it did start with spinning and still today most of the investments are going in spinning but we are seeing now some fundamental changes because the big brands and retailers are shifting their sourcing offices to India and this will attract a lot of investments in synthetics, in finishing capabilities and I think, therefore, India will improve its weaknesses which are still there today. These weaknesses are mainly based on speed, time to market. We need to improve our sampling capabilities, the speed of sampling. China is much faster than India. And I think we're lagging approximately two weeks behind China. We also need to improve the availability and cost competitiveness of some specific raw materials. And this will then help the transformation of the Indian textile added value chain.
Could you tell us about the projects you are currently involved with in India?
Giuseppe Gherzi: First of all, there are two different types of activities that we are doing. One is management consulting and the other one is engineering. Now in management consulting, we cannot disclose the names of our clients because this is confidential and we are working on M&A, on restructuring, on strategy, on product development or market access. But in engineering, which means planning of factories, planning of new capacities, these are projects which are known. And here we do see first of all the Indian companies investing now into higher added value textiles, meaning technical textiles. We also see Southeast Asian or Asian companies as well as European and American companies coming to India and setting up their sourcing departments but mainly also garmenting, production of technical textiles. And I think this is one of the main drivers of the future growth in India. It will not only come from within India, but will be driven or pushed by foreign companies coming here for sourcing and thereafter asking for investments down the chain.