Photo: Facebook/Gokaldas Exports LTD
India was emerging as a preferred sourcing hub, bolstered by competitive labour costs, a stable policy environment and the recently concluded India-U.K. FTA has offered a 12% duty advantage over competitors like China, said Mathew Cyriac Chairman, Gokaldas Exports, a Bengaluru-based apparel manufacturer for global brands.
The global apparel market was undergoing a profound realignment, with exports projected to grow from $575 billion in 2025 to $715 billion by 2030 and India was emerging as a preferred sourcing country, he wrote to shareholders in the company’s annual report as part of his commentary on global apparel trends and market dynamics.
Despite near-term challenges, such as U.S. tariff uncertainties impacting consumer sentiment, Gokaldas Exports’ agility positioned itself to seize longterm opportunities, he said adding, “This dynamic landscape fuels our ambition to strengthen our role as a global leader, leveraging India’s growing prominence in apparel exports, which rose 10% in FY25.’‘
Mr. Cyriac wrote, during FY25, the company achieved significant revenue growth, driven by a combination of organic expansion and contributions from acquired entities. Gokaldas Exports’ acquisition of Atraco, with its strong manufacturing presence in Kenya and Ethiopia, has expanded its global footprint, enhanced production capacity, and provided access to new markets with favourable trade agreements. Similarly, he explained, the acquisition of Gurgaon-based Matrix Design, which manufactures men’s and women’s apparel for brands across North America, Europe, and South Africa, has strengthened the company’s product offerings, particularly in knitwear.
Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, Gokaldas Exports said, in FY25, the company’s consolidated total income grew by 63% YoY to ₹3,917 crore, driven by both organic growth and strategic acquisitions. “Notably, our organic revenue growth of 19% YoY outpaced the industry. Furthermore, our acquisitions have not only expanded our global footprint but also contributed significantly to our top line, accounting for 34% of revenue,’‘ he wrote in the annual journal.
According to Mr. Ganapathi, the company also made substantial investments in organic growth to enhance capabilities, expand manufacturing capacity and optimise operations through advanced technologies. Additionally, the company upskilled over 51,000 employees. On sustainability, he said In FY25, the company achieved a 40% water saving in laundry operations, reduced water intensity by 8% per garment.
Looking ahead to FY26, Mr. Cyriac further said the company remained confident in its ability to navigate near-term uncertainties, such as tariff challenges in key markets, while capitalising on India’s long-term potential as a global sourcing hub.
“Ongoing FTA negotiations with the EU, UK and bilateral trade discussion with the USA, alongside India’s stable geopolitical environment, will further strengthen our competitive positioning,’‘ he said.
Published – August 25, 2025 08:15 pm IST
