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Industry 4.0 is the future. It will lead to transformational changes across the industries through artificial intelligence, virtual reality, Industry Internet of Things (IIoT), big data analytics, etc. The textiles industry has already adopted this technology through networking of the various machineries in the plant and remote monitoring of high technology equipments. LMW had offered remote monitoring of many parameters in ring frames and other machines in the past, but the adoption by industry was slow. Similarly, the remote monitoring of finishing and printing machines has been practised for quite a number of years. With Industry 4.0 catching up, we are sure concepts like IIoT would be adopted by the textiles industry at a much faster pace than earlier. We are proud to say that most of our principals including LMW, Brueckner, efi Reggiani, Thies, etc, are ahead of other players and are ready to offer this solution to the industry.
Please share details of your last two fiscals, and your expectations from the coming two.
Our performance has been quite good in the last two fiscals and being a listed company, the details are available on the website. In spite of the market conditions, we expect that the Indian textiles industry as well as textile machinery industry would do well in the long term in spite of the pressure and the cyclical phases in the short term.
Do you plan to introduce machines with Internet of things (IoT)? How do you plan to expand your current range of product offerings in the future?
ITME 2016 is around the corner and obviously we would like to unwrap the plans of our principals during the same. We sincerely request all our customers to visit the booths of our principals to understand how we and our principals can support them through IIoT.
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