– Kishore Khaitan, MD, Basant Wire Inds Pvt Ltd, Jaipur, Rajasthan
The industry went through many ups and downs during the year which was marked by a lot of uncertainty and anxiety related to both the market and government policy (including delay in TUF extension). Rupee devaluation and exchange rate fluctuations only added to this sentiment besides problems related to power and labour supply and raw material prices.
No clear trend is visible with both concerns and opportunities presenting themselves. USA economic recovery, problems in Bangladesh and China present business opportunities to India, domestic demand sluggish but likely to be better.
Until a new government is installed at the Centre, no long-term policy initiatives are likely. We expect new government to provide a stable policy framework, take measures to promote technology upgradation and export promotion of textile machinery sector besides taking measures to boost economic growth, lower interest rates and boost foreign investment into the country.
The textile minister´s remarks of golden era are wishful thinking, when considered against present facts and climate of uncertainty.