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'Indian textile machinery sector equipped to meet demand'
11
Aug '14
“The Indian textile machinery industry is fully equipped to meet the growing demand for spinning machinery in India,” says, Mr C Kamatchisundaram, Vice President - Voltas Textile Machinery Division.

“However, our country depends on imports from Europe and China for fulfilling the need of weaving, knitting, processing & finishing industry”, Mr Kamatchisundaram said in a chat with fibre2fashion.

When quizzed on the demand for textile machines in India, Mr Kamatchisundaram informed, “The demand for the spinning machinery in India is mainly to create green field and brown field projects and the Indian spinning industry adds 2.5-3.5 million spindles every year, with demand varying depending upon the market conditions.

He added, “The Indian spinning industry did pretty well last year, mainly due to the significant growth of 25% in yarn exports. Hence, it is obvious to expect that the industry would look for new investments in the current year and the trend is expected to continue in the next couple of years.

“However, I hasten to add that this depends on sustained growth in yarn exports and favourable situation of cotton which is the major raw material for the spinning industry”.

“The situation in the first quarter of current fiscal is a cause of concern as cotton prices were ruling at high levels and the industry witnessed a negative growth to the tune of 20–25% in yarn exports, mainly due to reduced demand from China which is the major importing country.

Click here to read whole interview.
 

Fibre2fashion News Desk - India

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