Davos 2024: India Preferred Place For Supply Chain Retailers, Says Welspun Living's Dipali Goenka
Goenka highlighted the growing importance of artificial intelligence and machine learning in the business ecosystem.
India has become a favoured place for sourcing and supply chain retailers since the country is strategically well-placed, according to Dipali Goenka of Welspun Living Ltd.
"India is a critical piece of market... as the idea of food, clothing and shelter is truly kicking in India," Goenka, managing director and chief executive officer of Welspun Living, told NDTV Profit's Niraj Shah in an interview at the World Economic Forum.
"With a stable government in the country... India is presently in a very sweet spot and a preferred place for sourcing and supply chain retailers."
The textile company was not just a solution for innovation or trends, but it believed in supporting the sustainable way of conducting businesses, she said.
Goenka highlighted the growing importance of artificial intelligence and machine learning in the business ecosystem. AI and ML helped Welspun to predict the consumer buying pattern or understand the future price pattern of a product in demand, she said.
Welspun is presently waiting and monitoring the Red Sea situation, and some solution could be expected by March, according to her.
"Taking the destiny under our control is important. These dynamics will continue," Goenka said. "Cotton might not be growing that well in some areas. But how do we hedge these problems and find solutions for them will be the new world order."