Textile major Gujarat Heavy Chemicals Ltd (GHCL) plans to focus on expansion in its domestic retail business this year. As part of the plan, the company will strategically partner with local retailers to strengthen presence in the country, reports Business Line.
“I see no respite in the Western economy in the next one year and so in order to cushion ourselves from the impact of the slowdown in the US and the UK, we have decided to concentrate on the domestic business this year. By the time we finish expansions here, I hope the economy will return to normal,” quoted Sanjay Dalmia, CMD, GHCL in the report.
Further, the company targets 60 per cent earnings this year from the domestic market, which was earlier just 25 to 30 per cent of the total earnings, added the report.
— IndiaRetailing Bureau