However, compared to the size and technology in competing countries, it was essential for the Indian industry to invest continuously.“Innovation is vital for the industry to grow and prosper,” he said. The textile sector had invested on a large-scale in plant and machinery. It should go in for the latest machinery, he said.The post-budget reactions of the industry had been presented to the Government. “We expect more consideration for the sector,” he said.
Chairman of the Confederation of Indian Industry, Southern Region, C.R. Swaminathan, said that maintenance of machinery was important for the units to be competitive. The power scenario in the State was affecting the competitiveness of the industry.The Government should help the industry in areas such as availability of skilled man power and infrastructure.
Chairman of the Southern India Mills’ Association K.V. Srinivasan said the industry expected a special package from the Government.“The industry needs Government support to recover.” The margin money should be brought down for working capital and interest rates should be reduced, he said.Sridhar Varadaraj, chairman of the Textile Machinery Manufacturers Association (India), said the association would consider having an exhibition of textile machinery here. The textile engineering sector was investing in research and development continuously.
N. Subramaniam, committee member of the Indian Textile Accessories and Machinery Manufacturers’ Association, said the Government’s assistance was important to the industry.Umesh J Shah, president of Textile Machinery and Mill Stores Merchants’ Association, also spoke.J. Thulasidharan, chairman of the event, said the last two editions of the fair had over 200 exhibitors.
This year the fair had 104 exhibitors and 135 stalls.S. Dinakaran, vice-chairman of SIMA delivered the vote of thanks.