Home / Knowledge / News / Textiles / Global recession engulfs textile machinery industry
Global recession engulfs textile machinery industry
Nov '08
Indian textile machinery is going through a slow down of 15 to 20 percent and experts say that such situation is expected to continue for another six to eight months. Global recession and lower demand have affected the machinery industry quite badly.

This slowdown in textile machinery during 2007-08 has also perturbed the growth in the textile engineering industry that has plunged from 26 percent to a petty 7 percent and further it is anticipated to register a negative growth for 2008-09 fiscal.

Available statistics show that the textile machinery industry is worth around Rs100 billion, including Rs70 billion of imported equipment. The cost of machinery is critical in overall texitles production cost to compete globally.

While explaining the situation to reporters, Mr Sanjay Jayavarthanavelu, Chairman of India-International Textile Machinery Exhibition Society said, “Cheaper imports, including second hand machinery are part of the problem. Another problem is a much bigger cotton crop. Consumers too are in a wait-and-watch mood and this affects textile manufacturers.”

The prestigious International Textile Machinery Exhibition '8th INDIA ITME 2008' is scheduled to take place in Bangalore International Exhibition Centre, from November 15 to 22. Union Textiles Minister Shankarsinh Vaghela will inaugurate the exhibition.

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search