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The exports of the textile machinery are estimated to be remain steady at Rs 485 crore in fiscal 2007-08 as against Rs 489 crore in fiscal 2006-07 as the demand for textile machinery has come down, according to the Textile Machinery Manufacturers’ Association (TMMA).
Exports remained stagnant over the last 3 years due to high domestic demand and tough competition in the export market. “The textile machinery industry did not do well in 2007-08. The slowdown in the textile industry during 2007-08 affected the growth of the textile engineering industry (TEI) considerably, as it has come down from 26% to only 7%. There is likely to be negative growth during 2008-09,” Sridhar Varadaraj, chairman, TMMA said.
The production of textile machinery, parts and accessories, has increased from Rs 2,799 crore in 2006-07 to Rs 2,997 crore in 2007-08, recording an annual growth of 7% over the previous year and a capacity utilisation of 79% during the year. Import of textile machinery reduced from Rs 9,434 crore during 2006-07 to Rs 7,500 crore during 2007-08, thanks to good demand from weaving, knitting, processing and garment sectors.
The earlier spurt in demand from the textile industry had triggered the TEI to develop and expand the machinery- manufacturing capacity, particularly in the spinning machinery sector.
Units in the industry were striving to step up production and shorten the delivery period, he said. “The present demand recession has put the TEI in the back foot. There is a need for sustained demand,” Varadaraj said.
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