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Our USP is our quality, technology and prompt after-sales services
Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery manufacturing activity with a drum-driven warping machine. Today, the company manufactures weaving preparatory textile machinery and has a clientele in countries like Nigeria, Iran, Sri Lanka, Bangladesh, Thailand and Indonesia. Rikesh Mistry, director of Jupiter Comtex discusses the challenges affecting the textile machinery sector in India.
What is the market size for textile machinery? What is the global market size for weaving preparatory textile machines?
The textile machinery market is witnessing tremendous growth buoyed by growing demand of textile, and the industry witnessed a growth of 8-10 per cent. The global market size for weaving preparatory is 50 per cent when compared to India. We are see it grow consistently.
What are the major issues hampering growth in this industry? How can these be overcome?
This industry is facing great challenges. The major reasons for these challenges are global recession, unfavourable trade policies and internal security concerns. Along with that, the high cost of production due to an increase in energy costs and safety issues, especially against fire, are hampering growth. The cost of imported inputs, rising inflation, and high cost of financing have also seriously affected the growth in the textiles industry. The government should provide subsidies to the textiles industry, minimise the internal disputes among exporters and withdraw the withholding and sales taxes. Purchasing new machinery or enhancing the quality of the existing machinery and introducing new technology can also be very useful in boosting R&D.
What is your USP compared to other big players?
Our USP lies in our quality, technology and our prompt after-sales services.
What have been the recent developments at Jupiter?
I think innovations are taking place in this industry. The latest technologies and machines and equipment are being used. At Jupiter Comtex, we are developing a new indigo rope-dyeing range.
Do you plan to integrate Internet of Things into preparatory systems in the near future?
Yes, Internet of Things today focuses on manufacturing, transportation and intelligent cities, but in the next five years all industries will have their own IoT infrastructure.
Which factors play key role in shaping the textile machinery industry? Where is India lagging behind?
The main factors critical to the textile machinery industry are designing, marketing and distribution. India is lagging behind in garment exports.
What are your expectations from the GST?
I hope that with the GST implementation, the cascading of taxes will be controlled. The revenue loss due to different taxes against which input credit cannot be claimed will be eliminated or reduced.
Published on: 04/10/2017
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.