Home / Knowledge / News / Textiles / Post recession European machinery manufacturers eye India
Post recession European machinery manufacturers eye India
16
Dec '09
With more than a year of slowdown witnessed in the textile sector in India and now showing signs of tapering off, textile enterprises are all set to invest in new and technologically modern machinery and equipment, which has led to European textile manufacturers taking a fresh look at the Indian textile machinery market.

Indian textile mills are taking full advantage of the government sponsored Textile Up-gradation Fund Scheme (TUFs), which entails them to specific subsidies and investing in better technologies in a bid to churn out high-end and competitively priced products.

Many companies like Alok Industries ltd and Banswara Syntex are investing huge sums in either upgrading or adding new machineries to take advantage of the post-recession scenario. In a bid to get an inkling of the plans and reasons for European manufacturers eyeing the Indian market, Fibre2fashion spoke to Mr Chakrabarty, Secretary, Textile Machinery Manufacturers Association.

He said, “The relations between the Indian textile industry, Indian Textile Engineering Industry and the European textile machinery companies go back to over a hundred years. Indian textile industry was set up in the late 19th century and early 20th century with machinery from Europe (U.K. in the beginning). The machinery manufacturing in India started in the late 1940s mostly with borrowed technology from Europe during 60s, 70s and 80s.

“There were many foreign collaborations entered into by the European manufacturers with the Indian manufacturers to manufacture Spinning, Weaving and Processing machines in India and it is only after the liberalization of industrial and trade policy after 1991, European manufacturers were not encouraged to continue with the collaborations and the Indian manufacturers started developing the machines on their own and today in spinning, weaving preparatory and in some processing and finishing machines, we have technology at par with the international standard.”

Commenting on the impact of recession on imports of textile machineries, he said, “The global recession as well as the recession in the textile industry during the last couple of years adversely affected both the textile industry and textile machinery manufacturing industry. Imports have fallen drastically by 30-40 percent and domestic production too has declined by 40-45 percent, with capacity utilization plummeting below 50 percent”.

When asked about the steps the Indian government has taken to help textile industry, he replied by saying, “The Indian Government has taken several measures to improve the health of all sectors of the industry including the textile industry. This came in the form of reduction on excise duty, duty drawback, etc. The Government also released the pending subsidy under the technological up-gradation fund scheme, to the textile industry.


Must ReadView All

Robert Lighthizer speaking at the opening of the ministerial plenary of the 16th Forum of AGOA, in Lome. Courtesy: US Embassy in Togo

Textiles | On 17th Aug 2017

US committed to Africa, Lighthizer tells AGOA forum

The United States and Africa can jointly create a better business...

Textiles | On 17th Aug 2017

Sri Lankan textile exports down 4.1% in May 2017

After showing positive trend for two consecutive months, Sri Lankan...

Courtesy: American Eagle Outfitters/Aerie

Apparel/Garments | On 17th Aug 2017

ABFRL to sell American Eagle products in Indian market

Aditya Birla Fashion and Retail Ltd (ABFRL) has entered into a...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X