India, renowned as a global textile hub, stands at the forefront of the textile and technical fabric manufacturing industry. With the second-largest textile workforce globally, it contributes significantly to the nation's economy, accounting for 55 percent of its total export earnings. This industry has witnessed steady growth, with a global market value exceeding 1500 Cr in 2022-23. The industry's scope extends beyond traditional textiles, embracing technical fabrics with applications in the aerospace, automotive, and medical sectors, among others.
However, it faces the challenges of sustainability, compliance with global quality standards, supply chain disruptions, and the adoption of advanced technologies. Nonetheless, India's textile and technical fabric manufacturing industry exhibits immense growth potential, driven by innovations, increasing demand for sustainable materials, and the pursuit of international market excellence. In navigating these dynamics, Banswara Syntex, one of Asia’s largest fiber-dyed yarn manufacturing set-up, established in 1976 by R.L. Toshniwal and based in Rajasthan’s Banswara - a rural Bamboo forest town, stands at the forefront as a beacon of leading innovation in the industry.
The Inception of an Industry Leader
Originating from a conversation with Rajasthan's former Chief Minister, Joshi, the company received a crucial financial boost from the government. Starting with a small factory of 12,002 spindles, Banswara Syntex has undergone a remarkable journey, subsequently leading it to evolve into a fully integrated textile enterprise, with a specialized focus on manufacturing yarn, fabric, and ready-made garments. The firm has emerged as a major player in the fiber-to-fashion industry with a daily production of 100 tons of yarn, 1,80,000 spindles, and 450 looms. The company also boasts a processing capacity of 1.5 lakh meters per day accomplished by its employee manpower of 12,000 individuals. Its collaboration with Tesco International in technical textiles adds to its diverse portfolio.
Through its journey, Banswara Syntex has also expanded its market presence to encompass more than 50 countries, spanning the United States, United Kingdom, Canada, Spain, Germany, Japan, France, United Arab Emirates, and Turkey, among others. Notably, the company has achieved numerous accolades, including an impressive eight consecutive SRTEPC awards. Over the past 18 months, the company has increased 1.5 times topline, with a remarkable twofold increase in its bottom line, marking a period of unprecedented growth. In achieving such feats, the company is dedicated to the fulfillment of its vision.
“Our vision is to be a global market leader that provides integrated textile solutions for our customers. We strive to excel on the fronts of reliability, quality, innovation, and branding. We seek to be a preferred employer and a socially responsible corporation. Furthermore, our vision is to service the fashion industry with speed, design, and innovation at an affordable value. We strive to build sustainable practices for the environment and employees”, shares Shailendra Pandey, President & Business Head.
Embracing sustainability as a core value, Banswara operates its thermal power plant, generating an impressive 30 MW of captive power for its mill. The company's forward-looking agenda includes a transition to solar energy. In keeping with Industry 4.0 trends, Banswara is gradually incorporating automation, cutting-edge technology, and software solutions into its manufacturing processes. As a government-recognized Three Star Export House, Banswara Syntex proudly holds IS/ISO 9001:2008 and IS/ISO 14001:2004 certifications awarded by the BIS.
Key Offerings
The company places product innovation at the heart of its corporate ethos, offering a diverse and highly specialized range of textiles and technical fabrics. This capability has positioned the company as a trusted supplier to esteemed fast fashion brands such as Uniqlo, Calvin Klein, Marks and Spencer, and Next, to name a few. Delivering a wide range of Yarns, Fabrics, and Readymade garments, and customized fabrics, the firm boasts an expansive product portfolio catering to a wide range of industries.
Banswara Syntex's technical fabric offerings extend across a broad spectrum of applications, showcasing versatility. Notably, the company supplies fire-retardant jacquard fabric to the Indian railway sector, enhancing passenger safety by preventing the spread of flames upon contact. For the Indian army, Banswara delivers robust glass fiber fabric employed in the production of bulletproof jackets, contributing to national security. Furthermore, the automotive industry both in India and overseas benefits from the company's high-quality technical fabrics.
In addition to offering customized fabrics and a wide range of technical and non-technical fabrics, the firm also conducts analysis of fabrics provided by clients in certain instances. Leveraging its state-of-the-art laboratory facilities, Banswara conducts a comprehensive assessment, beginning with the fiber analysis, followed by an examination of the manufacturing process, weaving techniques, and necessary treatments. After meticulous analysis and testing, the team compiles a detailed report encompassing all relevant parameters and specifications. This report is then shared with the customer, initiating a thorough verification process on their end, including cut and sew procedures.
Beyond the diversity and scope of offerings, the firm places a high value on operations, classifying its culture as its USP. “The bedrock of our success lies in its distinctive culture and management style, setting Banswara Syntex apart in the industry. Previously, as a trading entity, our operations faced challenges – limited orders, sustainability issues, subpar quality, and delayed deliveries. To address these concerns, a transformation began with the establishment of structured processes and dedicated task teams. These teams were tasked with segmental performance, resolving weaving and processing issues promptly. Today, we proudly deliver on our promises, offering top-notch quality and achieving remarkable growth, driven by our enhanced processes and unwavering commitment to customer satisfaction”, shares Shailendra.
In addition to the USP, the firm’s dedicated workforce is the driving force behind its continued growth and success. Banswara houses a highly skilled and diverse team operating at various levels, each contributing significantly to its success. The expert design team is dedicated to crafting innovative designs, while the specialized processing team meticulously handles the final production stages. The quality control team comprises exceptionally knowledgeable individuals, ensuring the excellence of the products. Furthermore, Banswara Syntex is in the process of establishing a cutting-edge pilot plant, where another specialized team will spearhead fabric innovation, enhancing the company’s presence in diverse markets.
The bedrock of our success lies in its distinctive culture & management style, setting Banswara Syntex apart in the industry
Expansion Initiatives
In the past year, Banswara Syntex embarked on a transformative journey, injecting 110 Cr. into a modernization drive for its spinning, weaving, and processing units. This strategic move was born out of a commitment to sustainability and efficiency. The company’s efforts to upgrade the aging machinery and reduce power consumption have yielded substantial energy savings, aligning it with eco-friendly practices. Looking ahead, the firm is poised to invest even more significantly, surpassing 80 Cr investment to replace older technology in the Worsted Spinning division.
"Our commitment to sustainability extends to embracing solar energy, with the installation of a 4.5-megawatt solar facility, with plans for further expansion. Additionally, we're transitioning from coal-fired systems to biomass for our thermos-pack operations to minimize our carbon footprint. We recycle 2.7 MLD of water per day also using approx. 40 percent of recycled polyester fibers in our spinning to fulfill sustainability”, shares Shailendra.
These progressive initiatives signal the firm’s unwavering dedication to advancement and growth, with a resolute aim to ascend to the pinnacle of the industry. Through continued advancements, the firm is not only poised to achieve its desired growth trajectory but also to become an example within the industry.
