Gautam Makharia, Director, Dyecol™ – a concern of Shree Pushkar Chemicals & Fertilisers Ltd. is a veteran leader in the industry. He did his graduation in engineering from Bombay University and an MBA from the University of Manchester. Gautam was a Six Sigma Auditor. He joined Shree Pushkar in the year 2000.
Recently Gautam Makharia, Director shared their views regarding Bangladesh and the global dyes market scenario, growth outlook, and future plans with Textile Today.
Textile Today: How do you see Bangladesh’s dyes market as compared to India and other countries?
Gautam Makharia: As we all know, Bangladesh is one of the biggest dyestuff markets after China. So, we suppliers certainly consider and look into Bangladesh, and Türkiye as a holistic dyestuff market – as these countries are the largest textile manufacturers – rather than considering the Indian dyestuff market. Yes, India is growing but not, as large as, Bangladesh.
Textile Today: In the last few months there is less demand for dyes overall in the global market. How much has it affected the dyes manufacturers in India and China?
Gautam Makharia: I should say that the global dye demand has dipped by 40% to 50% and it has impacted greatly. Bangladesh – compared to Türkiye or India – the shrink is severely impacting the textile industry. Whereas, in India, the dyes market is growing in the last few months. And most of the dye manufacturers are working at 30% to 40% more capacity compared to Bangladesh. So, the dyes market scenario is much better in India in recent times.
Textile Today: What are your views that the Russia-Ukraine war has affected the Bangladesh garment export markets?
Gautam Makharia: It is not just Bangladesh – rather it is a global phenomenon due to this Russia-Ukraine war. The western sanctions on Russia have tremendously unstable the global energy sector – in terms of availability and prices – and created a huge energy crisis in Europe. Energy price in Europe has more than doubled which has greatly impacted consumer sentiment. So, this issue is globally disrupting the fashion demand – not just in Bangladesh’s garment industry.
We are hopeful that in 2023 things will improve and we do see signs of improvements – maybe not in this quarter but definitely in the next quarter of this year.
Textile Today: What is your idea about the dyes market? Will the demand increase in the coming months?
Gautam Makharia: As I said, the dyes industry is optimistic regarding a comeback in demand within the next quarter of this year.
Textile Today: Any new plans for Dyecol in the Bangladesh market? How do you think Shree Pushkar Chemicals and fertilizers Ltd. will grow in Bangladesh in the coming 5 years?
Gautam Makharia: For Dyecol i.e. Shree Pushkar Chemicals and fertilizers Ltd. – Bangladesh is one of the most important markets. We are present in this vital market for the last three years. We are really focusing on building up our business through the rope in new customers/partners in this globally leading apparel market.
In the coming 5 years, we want to see Dyecol i.e. Shree Pushkar Chemicals and fertilizers Ltd. among the top three dye companies in Bangladesh. We are working our best and hard to achieve our goal.
Textile Today: You are in the Bangladesh market since 2018. Are you happy with your growth in this big market?
Gautam Makharia: Surely yes. Compared to other manufacturers from China or India – Shree Pushkar Chemicals and fertilizers Ltd. is the most diversified and sustainable dyes manufacturer worldwide.
Within the short span of around three years – Shree Pushkar Chemicals and fertilizers Ltd. has established itself as a prominent dyes manufacturer in this country. We see immense potential in this market and Shree Pushkar Chemicals is giving an all-out effort in the Bangladesh textile market.
Textile Today: You are one of the leading VS manufacturers in India. It is one of the main raw materials for reactive dyes. What advantages will you get in the pricing of reactive dyes in Bangladesh?
Gautam Makharia: First of all, pricing is subjective. Whereas the most important issue is how sustainable you are as a dyestuff manufacturer. In terms of Vinyl sulfone or VS – is one of the main raw materials for reactive dyes.
You rightly said that Shree Pushkar Chemicals and Fertilizers Ltd. is one of the largest VS manufacturers in India. But we are different from other VS or overall dyestuff makers. How are we different? We work on a ‘zero waste’ concept – meaning at Shree Pushkar – we flourish to take care of people and the environment.
Whereas, most of the Vinyl sulfone manufacturers in India and China are settled with environmental issues. While Shree Pushkar Chemicals convert waste into opportunity. Most of the waste that is generated during VS is reprocessed and used in our fertilizer plants as raw materials.
Das (Right), Bangladesh Country Manager, Shree Pushkar Chemicals & Fertilisers Ltd.
As a result, to answer the question, yes it definitely brings advantages in the pricing of reactive dyes. Because in markets, the dyestuff pricing is volatile. Whereas, we bring a lot of stability with this relentless effort has resulted in us being a highly sustainable manufacturer.
It can be evidently seen that the management is in a constant effort to make the company self-sustainable.
Textile Today: Do you have any specific plans to overcome other dyestuff maker competitors in Bangladesh? What is your main unique selling point (USP)?
Gautam Makharia: With respect to other manufacturers, be they from India or China, Shree Pushkar Chemicals believes in its motto of sustainability and the right product at the right price – this will keep us on top. Our main USP is consistency, sustainability, and quality – as in today’s world, quality is the ultimate way for everyone.
Bangladesh textile dyestuff is a huge market – so, there is a place for everybody. We believe in healthy competition. With our sustainability, consistency, and quality – we have a competitive edge that makes us more favorable than our competitors in this market.
Textile Today: Now Bangladesh dyes market has become very price sensitive. Do you have all the backward integration to make your Dyecol™ product cost-effective?
Gautam Makharia: Yes we are working towards an idea regarding the Bangladesh dyes market – whereby, Dyecol™ can have its own presence, in terms of blending, manufacturing, etc. in Bangladesh – to be more competitive. But these are all on the drawing boards as of now and we are working towards it.
Textile Today: How to call your company a zero waste manufacturing company?
Gautam Makharia: Most companies around the world are struggling with waste. So, when we say zero waste manufacturing – our ever-evolving technical and management team ensures the best utilization of products. Each waste is treated to the greatest possible level and then these are used to make other value-added products such as Fertilizers and Cattle Feed Supplements.
This has pronged effects on waste minimization and cost cutting, which is in line with our quality policy.
Textile Today: Final thoughts on Bangladesh textile industry.
Gautam Makharia: Bangladesh’s textile and apparel industry has been really strong and it has had its good and bad times. Entrepreneurs have always turned bad times into good times. So, the hike in energy prices is another hurdle to overcome. Entrepreneurs must keep believing in themselves to overcome this challenge.
