INTERVIEW
CREATING A
‘FAB’ FUTURE “Irrespective of the business environment, the textile industry has always faced challenges pertaining to environmental sustainability. This is an inevitable issue for all industry players. However, the time is now apt for finding solutions through technology and innovation. Jindal, being a Denim fabric manufacturer, is at the forefront of Reuse and Re-cycle philosophy. We re-use commonly discarded fabric waste and blend it with traditional raw materials to produce denim fabric, which effectively reduces the impact on the environment. In addition, we are shifting to a renewable energy source for the functioning of our units. The contribution of sustainable products is continuously increasing in our portfolio, and we believe that such practices from every player in the sector would go a long way in mitigating the major challenge faced by the industry,” emphasizes Gaurav Davda, Head – Corporate Finance & Strategic Initiatives, Jindal Worldwide Ltd., during an interview…
Can you tell us the transformation journey of Jindal Worldwide? Jindal Worldwide Ltd. began its course with fabric trading and steadily expanded into weaving, processing, and home textiles. Jindal went public in late 90s early 2000s, and since then, has continued to increase the scale and range of its operations. Today, Jindal Worldwide is one of the largest denim exporters and manufacturers. By capacity, we are the largest manufacturer of denim in Asia, and third largest globally. The Group specializes in manufacturing premium quality denim, printed shirting, dyed yarn, and bottom weights. Jindal does its spinning, weaving, and processing and hence the factories are all extremely well-equipped with the right types of machinery. In addition, we invest in laboratories to conduct textile testing and R&D. Jindal has traversed a long threedecade journey with its dedicated family of a strong workforce. As a company, we believe that growth is constant and that effectively means the journey never ends.
6 CELERITY March - April 2022
We will continue to strive harder to make our mark.
Textile industry post a brief slowdown is set to break the shackles and emerge as one of the highest value contributors to the GDP. What's your views on this? Textile industry was going through challenging times since last few years. The pandemic-led lockdown and restrictions impacted the financial health of most players terribly, which resulted in many unorganized players shutting down, which led to mass unemployment. However, factors like revival in domestic demand and surge in export demand owing to ‘China + 1’ strategy has fuelled the industry with renewed hope. We believe this is not going to be temporary phenomenon and ‘China + 1’ strategy is actually going to provide a major boost to the industry, which has among the highest export contributions and has a major share in employment in the country. The intervention by government
Gaurav Davda is a seasoned Corporate Finance, Fund Raising, M&A and Strategy professional with more than 15 years of experience across multiple sectors. He is an MBA (Finance) from SP Jain Institute of Management & Research (SPJIMR). Gaurav has an enviable roster of investor & corporate connects both domestically as well as overseas. Over the span of his career, Gaurav has been involved in capital raising of more than US$500 mn and M&A transactions worth over US$750 mn. Gaurav has worked across IPOs, QIPs, Private Equity, Mezzanine Finance among other products. Gaurav holds Board level and advisory positions across various organizations both listed and unlisted. Gaurav is an early stage investor as well and mentors young startups and founders in the areas of strategy, fund raising, go to market plans and other organisational matters.
