Spinning Profits At Vardhman

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Suchita Oswal Jain, 

Vice-chairperson & Joint MD, Vardhman Textiles
age: 53
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Suchita Oswal Jain was fascinated by the magic that brings together single threads and turns them into an intricate piece of woven material, filled with texture and colour. At a time when women in leadership roles were rare exceptions, Suchita consciously joined her family business as a third-generation entrepreneur, in her early 20s. She has been pivotal to Vardhman Textile’s expansion, from its humble origins in Ludhiana in 1965, into one of the largest textile manufacturers of India with more than a million spindles and a 27,500-people strong organisation.
When Suchita joined Vardhman Textiles in 1991, the annual revenue of the company was around `301 crore. In the last fiscal (FY22), the company registered a revenue of `9,386 crore, a 30x growth in 30 years under her leadership.
Suchita has been a champion for innovation within the group who undertook multiple initiatives, including development of a strong R&D unit, a central technology cell, and a unit dedicated to sustainability and circular economy. It also led to the company becoming one of the largest vertically integrated textile manufacturing companies of India, with 30% of products being manufactured within the group only. “The textile industry needs to take more steps because terms like fast fashion, sustainable products are a constant reminder to go greener and more sustainable,” says Suchita. The group has initiated recycling textile waste at the company’s ReNova unit in Baddi, Himachal Pradesh.
Diversity, and upliftment of the poor and the marginalised have also been on top of her agenda. Currently, over 35% of the group’s workforce comprises rural women.