Trident Group Plans Greenfield Expansion in India: CEO

New Delhi, Feb 23 (PTI) Home textiles major Trident Group is charting out plans for greenfield expansion in India, which is gradually emerging as a quality and brand sourcing hub, while domestic consumption is also expected to multiply going forward, according to its CEO Samir Joshipura.

The group, which has earmarked Rs 1,000 crore capex for FY26 for sustainability, modernisation, and asset enhancement initiatives, is currently at a planning stage for its expansion plans in India and is likely to announce it sometime next year, he told PTI.

"We are in a planning phase, but year after, we are going to look at certain significant greenfield expansions...We have the scope of investing heavily, but we are not blindly going out...," he said.

Explaining the reasons for a studied approach, Joshipura said, "India is also at a phase where, at the macroeconomic level, global economic level, we are going through a transition as a country from so-called low-cost sourcing hub to a quality and brand sourcing hub.

Also, he said, "The domestic consumption story is putting India into another trajectory, not compared with other low-cost sourcing countries. We are also very conscious as to how the demand is going to switch from now till 2047, when India is going to become the third largest economy... and in which direction we need to invest."

Reiterating that the company is at "a planning stage" and it would be premature to announce now as the group is "considering quite a number of options", Joshipura said, "We would announce those expansions, hopefully sometime next year."

On the potential of the Indian market, he said the group's current business in the country is valued at "anywhere close to Rs 500 crore but this is going to increase significantly".

Out of the company's top line of around Rs 7,000 crore, he said textiles would be somewhere around Rs 5,500 crore to Rs 6,000 crore with non-India business accounting for around 85-90 per cent and the US being the biggest market.

"India is relatively very small market compared to the developed market like the US and Europe, but India is going to become a larger and larger market..and early mover would definitely have an advantage," Joshipura said, adding there is a "huge vacuum in terms of brands in home textile segment" with only a few numbers of players in the domestic market.