Ahmedabad and India-based Chiripal Group company – Nandan Exim Ltd is on its way to becoming the biggest denim fabric producer in India in 2015 by which time it hopes to reach 112 million meters per annum, if the current market leader, Arvind Ltd does not add new capacity in the interim.
“Nandan is investing Rs 1200 crores in the expansion and we are in the process of adding new capacities to existing capacity of 70 million meters per annum and hope to complete installation of new capacity of 42 million meters by March 2015”, Mr Vishal Chiripal – Director of Chiripal Group informs fibre2fashion.
“This in turn makes Nandan Exim the sixth or seventh largest global producer of denim in the world, says Mr Sandeep Agarwal”, a global denim tracker and CEO of denimandjeans.com.
"Nandan Exim makes more than 2000 different types of denim fabric varieties ranging between 6 to 14 ounces", claims Mr Chiripal.
However, Mr Chiripal is not overtly worried of the current glut in the Indian denim market, although currently it sells 95% of its production in the domestic market. He says, “We have tied up with various international brands to ensure that our new capacity is fully utilized.”
“In the next few years, we hope to reduce reliance on the domestic market and concentrate more on the export markets. This in turn will take our global market share to 30-35% with the rest accounted for by the Indian market”, he adds.
He credits the Gujarat state government for its forward looking Textile Policy which has encouraged them to add this new denim capacity.
