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India ITME evolves into platform for new technologies

Dec '08
The industry has witnessed good days and they will come once again. The present recessionary trend is a cyclic phenomenon and will pass by. Addressing the exhibitors and visitors of India ITME expo Shri Vaghela observed that unlike the West, India was agricultural, rural-based and decentralised economy and had the wherewithal to beat the recessionary blues.

The domestic market is one of the biggest markets, which will enable the textile and clothing industry to levitate out of the current downtrend.

The Indian population which was always considered as a drawback has now proved to be an asset. This huge population is one of the biggest consumer market and textile and clothing industry should develop new strategies to create demand and increase sales.

While emphasizing that effort should be made to concentrate on domestic market, Textile Minister said that international markets should not be ignored. The exporting community should endeavour to explore and develop new markets.

The established markets like US and EU are reeling under demand crunch and it would be prudent on part of the exporters to look for new markets to maintain the export tempo.

Dwelling upon the textile machinery scenario, Shri Vaghela lauded the role of India ITME Society to hold a mammoth expo for the user industry.

There may be a investment slowdown, but order will come, he opined and advised the exhibitors to cater to such order despite less advances in order to keep the momentum of the textile machinery business.

The Textile Minister, Shri Vaghela said, government will offer full support to the textile machinery and textile industry. His Ministry was working to ensure TUF funds are released at the earliest. Efforts are also underway to encourage investments in the integrated textile parks, he stressed.

Earlier, Shri S.M. Krishna, Member of Parliament and Former Chief Minister of Karnataka, observed that Indian textile and clothing industry was insulated from the global down trend on account of the huge domestic market.

The domestic textile industry had posted a good performance on domestic and international turf and should endeavour to achieve new milestones. The raw material and human resources advantage should be capitalised on to pass through these challenging times, he said.

Mr. Shekhar Gulihatti, Minister for Textiles & Youth Services, Government of Karnataka referred to the new textile policy of Karnataka State Government for the period 2008-13 aimed to attract investments to the tune of Rs.10,000 crores and generate employment for 5 lakhs people.

The State Government had earmarked Rs.500 crores to achieve the Textile Policy targets and the expo had been well-timed for the Karnataka textile and clothing industry to check out the latest state-of-the-art machines to build up new capacities.

In addition to the support available under the TUF Scheme, textile policy proposes to provide capital subsidy for upgrading the technology, quality testing equipments etc. as an additional incentive to the industry to modernise their production facility.

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