Mumbai, June 27: Indian textile firms are now consolidating their global reach after snapping up several companies abroad, while sharpening their retail thrust at home to offset a slowdown in consumer spending in the US, industry officials and analysts said.

Export oriented textile firms such as Himatsingka Seide, Alok Industries Ltd and Welspun India have already entered new geographies and beefed up their local retailing arms.

"We have to continuously monitor what is happening in the US, fortunately the situation has not yet reached the point of our orders getting cancelled," said Himatsingka Chief Financial Officer KP Pradeep. "But we have seen delivery dates shifting by 10-15 days."

Silk fabrics and home textile maker Himatsingka acquired a controlling stake in Italian home textile retailer Giuseppe Belora last February, and will sell under the Bellora brand in new markets.

"Bellora is a brand that has not yet been monetised. We are looking to monetise Bellora in different geographies," Pradeep said.

Welspun India, which bought Portuguese bath rugs maker Sorema amd UK towel firm, Christy, has cut back its exports to the US to 50 per cent from over 70 per cent three years back.

"The strategy is to be present at multiple price points in multiple locations and de-risk ourselves from one particular currency," said Akhil Jindal, Welspun group president.

Exports constitute about 50 percent of denim and apparel maker Arvind Ltd's revenues and it ships fabric to garment conversion centres like Bangaldesh, Sri Lanka and Egypt, besides exporting garments to the US Arvind's exports to the US have not yet seen a dip.

"Even though the end market is in recession, a rapid inflation in China and other markets has brought business in way of India," said Arvind's Chief Financial Officer Jayesh Shah.

Rival Alok Industries, is expanding base in Europe and Middle East, which account for 15 to 20 percent each of its exports, to boost growth, Chief Financial Officer Sunil Khandelwal said.

The rupee's rise in 2007 singed Indian textile exporters and many are now turning to prime their retail operations in the country as an hedge to export-related risk.

The rupee's rise against the dollar dented India's 2008 textile exports earnings target in the year to March by a fifth to $20.5 billion.

The rupee rose over 8 per cent against the dollar between April 2007 and March 2008, making it one of Asia's best performing currencies.

Arvind plans to open about 40-50 exclusive stores across all brands during 2008-09. Under its retail unit, Megamart, it will open five 40,000-60,000 square feet stores and another 40 3,000-5,000 square feet stores in FY09.

Welspun Retail plans to ramp up its Indian retail operations to more than 650 stores from 435 by March 2009.

The retail chain sells home furnishings and products through the upmarket, Spaces, and Welhome for the budget customer.

Alok will add 100 news stores this year investing 400 million rupees.

"We are seeing less of a reliance on exports and more on retail...but the execution would be the key," said