MARKET & ECONOMY​

The Swiss textile machinery industry is strongly export-oriented and has a presence with its own companies, sales and service organisations in all the world’s key markets. Cornelia Buchwalder, Secretary General, Swissmem, speaks about the response to Swiss textile machinery globally post ITMA and how the Swiss textile machinery industry has been faring in India since the beginning of 2016.

Weavers are facing increasing demands in terms of quality fabrics, flexibility and delivery deadlines. In response the complete production workflow has to be optimised. Stäubli is providing an extensive machinery range supporting mills to accomplish this challenge during the weaving preparation and the weaving process. With warp drawing-in and warp tying machinery as well as shedding solutions for frame weaving (cam motion and dobbies), and Jacquard machines, Stäubli offers equipment for modern weaving mills seeking for reliable, long-life machinery allowing smooth workflows even at highest speeds and with a minimum of maintenance.

With USTER® TESTER 6, the industry-standard laboratory system transforms into a complete quality management tool for the whole spinning mill. The new USTER® TESTER 6 has all the accuracy and power spinning mills have come to expect from this renowned laboratory instrument family. But its ability to integrate data from other quality measurement sources creates a true Total Testing Center, analysing every spinning mill process with practical guidance on both quality and wider mill management issues.

Thanks to the new S 35 spin box and improved technology, the semi-automated R 35 rotor spinning machine is able to process a wider range of raw materials. With 500 spinning positions, it achieves maximum production rates, explain Karel Bonek and Jagadish Gujar. The R 35 semi-automated rotor spinning machine is the economical alternative to produce quality yarns Ne 2 to Ne 40 using state-of-the art technology.

The Government of India has recently announced a scheme targeting at its garment export to reach $30 billion in three years. Prime Minister Modi’s government recently unveiled a scheme with an annual outlay of about (Rs 6,000 crore that will enable the country to reach $30 billion in garment export in three years. The scheme is labour friendly and empowers women and underpriviledged working in the garment and allied sectors. In three years, the initiative is expected to attract additional investments worth $11 billion and will provide 10 million new jobs.

S anjay K Jain, Managing Director, TT Limited, was elected as President of Northern India Textile Mills’ Association (NITMA), the apex body of textile industry in North India. NITMA elected its new leadership team in its AGM held on July 15, 2016 at New Delhi. Rajiv Garg, MD of Garg Acrylics was elected as Sr VP and Manish Bagrodia was elected as Vice President. Hardyal Singh Cheema, the outgoing president, handed over the baton to the new team.

The dynamics of the global garment and apparel industry have changed considerably in the last decade. The industry is shifting from China, the world’s largest clothing exporter, towards developing regions like South Asia and other emerging markets. Increasing wages in China have led international brands to focus their energies on, and seek alternatives in countries like Bangladesh, India, Pakistan and Sri Lanka.

Indian producers of purified terephthalic acid (PTA), a key raw material for manufacturing polyester chips, have cause for cheer with the Finance Ministry imposing definitive anti-dumping duty (ADD) on its imports from China, Iran, Taiwan, Indonesia and Malaysia. This Revenue Department move-which came less than a month after the recommendation of the designated authority in the Commerce Ministry-is expected to come as a relief for Reliance Industries and Indian Oil Corporation Ltd (IOCL).

The fight for survival of the once well-known name in stitching suits—S Kumars—has come to an end at the High Court, which has ordered its closure. The Bombay High Court has ordered liquidation of S Kumars’ nationwide assets and ordered the banks to appoint an official liquidator to recover debt. The company owes Rs 4,500 crore to 134 banks, including State Bank of India and ICICI Bank, and other financial institutions.

Passing the judgment on July 1, Justice BP Colabawalla gave four weeks’ time for the company to appeal against the order, and in the meanwhile, directed the banks to appoint the official liquidator to take charge of all the assets, properties, stock-in-trade, books of accounts and bank accounts of the company.