Interview Dr D Jayavarthanavelu -Chairman & MD, Lakshmi Machine Works Limited (LMW)
Founded in 1962, Lakshmi Machine Works Limited (LMW) is today a global player ranking one amongst the three in the world to produce the entire range of Spinning Machinery. LMW has 60% market share in Indian Textile Spinning Machinery Industry.
The Group has also diversified into CNC Machine Tools and is a brand leader in manufacturing customized products. LMW Foundry makes Precision Castings for industries the world over. It is the only company in Asia outside Europe to manufacture OE products for Mikron of Switzerland. Company’s global presence has grown over the years and it has won the Top Export Award in textile machine exports for the past seven years. Backed by workforce of around 3800 employees, the Group embarks annual turnover of Rs. 2000 Crores.
Dr D Jayavarthanavelu is the Chairman and MD of LMW Group. He is also the Chairman of Rieter LMW Machinery Ltd, a joint venture company of Rieter, Switzerland and LMW, Coimbatore. He has been nominated by the Indian Government to the Central Board of Reserve Bank of India and is also a Member of its Inspection and Audit Sub-committee.
Having equipped himself in the Faculty of Engineering at Coimbatore, Dr Jayavarthanavelu studied B.S. Textiles at Philadelphia College of Textiles and Science, Philadelphia, USA and took intensive training in Production and Management at Rieter Machine Works Ltd, Switzerland. He has been conferred with Doctor of Letters (Honoris Causa) by the Pondicherry University and Doctorate by the Annamalai University. He has also received the 'Vivekananda National Award for Excellence' by Ramakrishna Mission Vidyalaya.
Dr Jayavarthanavelu had been the Chairman of the Textile Machinery Manufacturers Association, India, in 1983-84. In May 1995, he was granted the ‘STATUS OF COMPANION’ of the Textile Institute, Manchester. He had been the former Chairman of the Indian National Office of the Textile Institute, Manchester, UK and the ‘WORLD PRESIDENT' of Textile Institute for the period 1998-2000 (first Asian to hold this high office). Besides, Dr Jayavarthanavelu is also a Committee Member of Federation of Indian Chamber of Commerce and Industry (FICCI), New Delhi, and Patron of the Institute of Indian Foundrymen.
On personal front, Dr Jayavarthanavelu is fond of the scout movement, shooting and photography and plays a lead role in various Charity Trusts.
In an exclusive interview with Face2Face team, along with market overview, Dr D Jayavarthanavelu also discusses the business traits that have helped LMW to be an exemplar in the textile machinery market worldwide.
fibre2fashion:
Survey reports suggest that Indian textile industry requires 5 mn spindles every year up to the year 2012 translating into 30 mn spindles over the next five years. What market share has LMW targeted?
Dr D Jayavarthanavelu
The Textile Ministry has projected a textile volume of Rs.110billion by the year 2012 of which Rs.60 billion is for domestic consumption and Rs.50 billion for exports. Based on this it was estimated 5mn spindles per annum is required ie., 3mn for expansion and 2mn for replacement. LMW has created a capacity of 3.5mn spindles. Hope to have a market share of 60-65 percent!
fibre2fashion:
Great ! Our Best Wishes for this.
How about China- that has emerged as a competitive low priced sourcing destination for textile, apparel and allied industry machinery and also making inroads in Indian markets in a big way?
Dr D Jayavarthanavelu
No doubt China has got a installed spindles of more than 90mn spindles and have sizeable share in the global textile market. They have also machine building capacity to cater the needs of their textile industry. As India is in second position in number of spindles it is an emerging market for the Global players to have their market share in Textile Machinery. On account of their faster delivery China has an edge over Indigenous and European machine manufacturers. However in case the Indigenous manufacturers/ imports could address the delivery constraints the Chinese machinery to India will not be big threat on account of its performance.
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