The total domestic demand for textile machinery during 2017-18 was Rs 13,613 crore of which imported machinery constituted Rs 9,652 crore, says the report from TMMA.
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China’s textile industry is accounting for over 60 per cent of the world chemical and synthetic fibre production, and it is second in cotton production, says Avinash Mayekar of Suvin Advisors.
Digitalisation is the new mantra for the next phase in textile production. It is slowly and steadily entering every aspect of textile machinery industry, and the recently-held ITMA Asia showed a glimpse of the digital era waiting to happen in textile production, reports ITJ Editor.
Cotton yarn production in India continued to remain sluggish during the 2017-18 registering only a marginal growth of about 0.1 per cent YoY after declining by about 2 per cent during the same period last year.
Certainly, in the last couple of months, there has been a slow down in fresh orders for imported machinery due to the prevailing uncertainty on the currency front.
It is also worth noting that Asian and Oceanic countries have nearly 80 to 90 per cent share in shipments of all the segments of textile machinery.
Dollar has been hardening, making Indian textile and clothing exporters happy. With negligible import content for the domestic industry, and the Government’s bid to curb cheaper import, good times are ahead, reveals the ITJ Cover Story.