Looking at the growing demand for home textiles in the domestic as well as overseas markets, Amritsar based D D Synthetics Private Ltd don’t want to lose the chance to encash on the same. The company is investing about Rs 20 mln to import state-of-the-art embroidery machines from Switzerland and for enhancing its stitching factory in Noida.
Moreover, a new company called D D Towers Private Ltd has become part of the group and has plans to enter the hotel business. Mr. Naresh Seth, Managing Director said, “There is huge demand for Indian finished home furnishing items in overseas markets. Although China is the main competitor, on the quality and designs, we are ahead of them. There is significant increase in the volume of exports, as earlier, India was positioned at No. 30 in exports of home furnishing item, but
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| presently, it is on sixth position, Seth claimed. He further stressed that there is immense scope for home textile exports from India, but only if we can manufacture the right products.”
The Company has achieved a gross turnover of Rs. 170 mln in this fiscal. Mr. Seth said, “Our vision is to explore new markets and create a niche in the market with its expertise.” The company also is coming up with a 140-room hotel, besides service apartments for aircraft crew at Airport Road, Amritsar. For this, it has submitted the plan to the Airports Authority of India to seek a no-objection certificate. Commenting about the bottlenecks in the trade, Mr. Seth said, “We have to shell out 4 per cent tax extra towards reentry fee when the raw material enters in Punjab, besides 4 per cent tax as market fee in the respective states (like Goa) from where do we procure the raw material.” This makes the input cost higher, he added. 
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