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Demand for textiles and apparel should be accelerated through FTAs
Voltas is one of India's leading textile machinery companies offering world-class value in technology solutions across the textile value chain. C Kamatchisundaram, vice president, Voltas, shares insights about the future of the Indian textile machinery industry.
What is the size of the global textile machinery market? What is the rate at which it is growing?
According to independent research reports, the global market size for the textile machinery is over $20 billion per year. In the past few years, the market has grown at a slow pace, given the slower economic recovery, low commodity prices to name a few. However, the long term potential is expected to be good, driven by the needs not only for classical textiles but also for technical textiles.
Voltas is a focused player in the Indian market and we provide world-class solutions to all customers across the value chain right from spinning to garmenting, with the best of the products, services and solutions in partnership with leading textile machinery manufacturers in India, Europe, China and Korea. In fact, some of our principals have been with the company for more than 50 years. We are proud that market leader in India, LMW, and market leaders in other parts of the globe see the value add from partnering with us, and thus have opted to work with us for sales and services of their products.
What kind of textile policies and subsidies can boost the textile machinery sector and help India compete with countries like China, Vietnam, and Bangladesh?
The government of India has been supporting the textiles industry through many policies like TUFS, ITP Scheme, and release of special packages; a recent case in point being the release of `6,000 crore to assist the Indian textiles industry to compete in the global exports market. However, countries like Vietnam and Bangladesh have been enjoying huge benefits through the free trade agreements (FTAs), preferred nation status, etc, which has helped increase their competitiveness. India too needs to explore similar agreements to accelerate the growth of exports of textiles and garments. We understand that there are lots of initiatives in the pipeline and even an FTA with European Union, if signed, would be a major boost for the industry as the EU is one of the major destinations for Indian textile exporters.
Which latest machines have been added for the textile industry in your product offerings?
Voltas is a single window solutions provider for customers for their every need-be it machinery, allied machinery,accessories, components and spares. We represent world class manufacturers in India and other parts of the globe to provide a range of products, which are performance leaders in the market. Our recent associations include Veejay Lakshmi for two-for-one twisters and assembly winders, FADIS, Italy for precision winders, E+L of Italy for slit opener, K+Z of Thailand for print shop equipments, Rapid for laboratory equipment, Runian for blanket polishing machinery, Kuris, Germany, for automatic fabric cutting machinery and AskMe, Taiwan for chest printing machinery.
What are the latest technological innovations in spinning, weaving, processing, knitting, and in the technical textiles niche?
In spinning area, our principals LMW has been the forerunner in continuously launching innovative products, which add a great value to our customers. The Ring Frame LR9SX launched in ITMA Milano 2015 is the most flexible and technologically advanced ring frame in the market. Similarly, LMW was the first to launch Comber LK69, the fastest comber in the market. Card LC636 launched by LMW is the real 1.5 mts wide card, as it has been designed keeping the current and future needs of customers on productivity, quality, user-friendliness, etc. Similarly, many innovations have been launched by our principals in processing, finishing, part of the value chain. For example, CDR and finishing machines by Brueckner, iMaster and iCone Fabric and yarn dyeing machines respectively by our principals Thies, and high technology digital printing machines by EFI Reggiani.
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