The SKAAT Group is known for its innovative products. This front-runner in the field of fancy yarns created ripples in the market with the launch of SKAAT Kaleidoscope at India ITME 2016. It is now all set to launch two trend-setting products – SKAAT Texture Yarn and SKAAT EVA – at Texfair 2017.
In an exclusive interaction, Mr. G. Radhakrishnan, Managing Director of the company, said: “The year 2016 – 2017 was good for our organization, even though there are many challenges in the industry, besides the demonetization announced in November 2016 and after that GST in July 2017. Generally speaking, we have a good system that enables us to adapt to any kind of situation, which, in turn, gives us the capability to be the leader in the fancy yarn segment.”
For the company 2016-17 has been a milestone year, for it launched many new products, including SKAAT All-IN-ONE which covers SKAAT Mossaic Pattern, SKAAT Tri Color Yarn, SKAAT Grindle, SKAAT Vario Grindle, SKAAT Tricolor Pattern and Yarn Injection with core.
“With 25 years of rich experience in fancy yarns backing us up, and after analyzing the needs of the customers, we have developed these new products,” he added.
Speaking about how 2017-18 is shaping up, Mr. Radhakrishnan pointed out that, with the introduction of the GST system, business is expected to show an uptrend. “The micro, small and medium level players in the industry, especially textile mills are struggling hard to overcome this issue. I would say approximately 500-odd mills, both in north and south India, have been closed, according to market reports. We expect the Government to support the textile industry so that it gets back into the growth track. We are also hopeful that the industry will witness a boom after Diwali.”
Sounding optimistic about the second half of the current financial year, Mr. Radhakrishnan said: “With everyone now set to follow the system, without any deviation and with transparency, thanks to GST, we expect the market will be better. Especially so for the fancy yarn segment where we expect the growth rate to be 12-15%”.
According to him, the current textile market scenario is good, with new ventures, machinery upgradations and manufacturers adopting new technologies in a cost-effective manner.
Also in the pipeline is a big plant in the Coimbatore region, which will offer new products. The plant will be hopefully inaugurated in 2018.
Mr. Radhakrishnan also said that things are not bad on the export front. “The Europeans always prefer Indian products. We have been offering them high quality products at affordable price. We are receiving a lot of enquiries from countries in the American continent, Eastern Europe and Asia,” he added.