Which textile machines are popular among domestic manufacturers?
India has been a preferred nation for sourcing of yarn by the global textile manufacturers, as Indian yarn is not only competitive but also meets the global quality requirement. The market share of India in the global yarn market is over 30 per cent and it is only expected to grow further. Hence, the manufacturing of spinning machinery has been a preferred option for the domestic manufacturers. LMW had foreseen this well in advance and therefore created world class R&D, manufacturing facilities to offer the entire range of spinning machinery, which are technologically advanced and innovative. The products manufactured by LMW are not only preferred in India, but also in the global market. Our principals have been the market leaders in the Indian textile industry with a market share of more than 60 per cent.
Which are your major markets for machines in the spinning, weaving, processing, knitting, and technical textiles sectors? Where do you see the demand growing in all these categories?
As indicated earlier, Voltas is focused to serve the Indian textiles industry, which is present across various parts of the country. The investment pattern in India is not only cyclical but also one that shifts from one area to another based on the investment promotion schemes of the Central and state governments. In the current year and the last few years, the investments are concentrated on the western part of the country, followed by north and south zone in the same order. Speaking about the sectors, while the market for spinning machinery is growing at a small pace, the same for knitting, weaving and processing has seen an accelerated growth and especially the market for circular knitting, soft flow dyeing, digital printing and finishing machineries has seen an uptick. However, we believe that the long term outlook for spinning in the country is good, and hence we would witness a significant growth with demand for spinning machinery also going forward.
Which major issues are plaguing the Indian textile machinery industry?
Well, the fortunes in the textile machinery industry are closely linked to the fortunes in the user industry. Currently, the textiles industry is growing through a difficult phase due to the subdued market conditions. In spite of the same, the investments in the textiles industry has continued in many parts of the country, driven by the long-term potentials and by the subsidies provided by the state and Central governments. However, the textile machinery industry would be much better if the demand for textiles and apparel is accelerated in export markets through FTAs and other means.
What are your thoughts on TUFS ? Can it really revamp the Indian textile industry?
The TUFS continues to be a booster of the investment sentiments in our country. The new avatar of TUFS-ATUFS- facilitates more investments in the downstream processes like knitting, weaving, processing, finishing and more specifically garmenting. This augurs well even for spinning, as investments in the downstream processes would create proportional need of investments in spinning too.
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