But all of a sudden, for the first time in many years, there seems to be a silver lining around the clouds in the sky. The last two months alone has seen China buy 140 million kg of yarn from India, about 75 percent more than usual. With China's appreciating currency and rising labor costs, yarn spinning in that country is becoming uncompetitive forcing it to look elsewhere for supplies.
A number of importers from China and the inquiries they made at Yarnex confirmed this trend. The twin shows were being held in the background of this exciting news. The weakening rupee and the fact that the US, a major buyer, is still holding on as a consumer were the other positive factors for India.
The event was inaugurated by Mr Chandran N., Chairman and Managing Director, Eastman Exports and Vice President, Tirupur Exporters Association along with other distinguished guests Mr Ahil Ratnaswamy, President, Knit Cloth Manufacturers Association, Mr A. C. Eswaran, President, SIMA and Mr Elangovan, Chairman and Managing Director, SNQS International buying house at Tirupur.
Said Mr Chandran: "Every year, I see the show growing and improving. I see a lot synthetic blends which should help Tirupur manufacturers an opportunity to further their exports. At present India exports 80 percent cotton and 20 percent synthetics and blends. Even if we increase the share marginally, we will be gaining a lot."
Mr Elongavan noted that the shows enabled them to learn a lot about the new developments in the industry. For example, he said, they found a lot of new varieties of warp-knitted fabrics besides micro fibers like polyester and nylon and spandex.
The show was filled with visitors from the morning itself of day one. Exhibitors expressed their satisfaction with many of them opting for bigger stalls next year.
Mr Amir Sheikh, Marketing, Indorama Industries Ltd, Chandigarh, said, “We are participating at Yarnex for the first time and we used this forum to present our new spandex fiber Inviya. The visitors were happy that they are able to get a good product and the response has been quite good. This is an opportunity to meet new customers as we are reaching out to a wider customer base.”
Mr Mike Hsing, Sales Manager, Tung Ga Linen & Cotton (Changzhou) Co. Ltd., China said, “We got a good number of inquiries especially linen for knitting. We were able to meet good quality buyers and Yarnex has been very effective in help us establish new business relationships.”
Mr Pankaj Bhardwaj, AGM (Dyed Yarn Marketing), Vardhman Polytex Ltd., Ludhiana said, “An excellent show! We are completely satisfied. The quality of customers and the overall atmosphere at the show was very positive.
Mr Faisal Malkani, Director, Netflex (India) Pvt Ltd, Mumbai, “All the three days have been good. Till date, we have not seen such a response at any of the shows we have attended. A lot of quality visitors had come and we even managed to get spot orders too. We had overseas visitors from places like UK and we feel we will be able to convert many of the inquiries into confirmed orders.”
Yarnex and TexIndia is organized by S S Textile Media Pvt. Ltd., Bangalore, who has been successfully conducting these along with some of the popular shows like the F&A Trade Show and Homtex in Bangalore the last ten years in a row.
SS Textile Media
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