TEI industry of India is feeling heat of slow down in textile field. Demand for textile machinery has come down as most of textile companies are either abandoning expansion plans or closing down their units. Textile industry apart from other ailing factors like instability in currency, rising raw material prices is also affected by USA market slowdown as India exports approximately 35% of its textiles output to USA.
According to data provided by council China is also experiencing reverse trend in investment of fixed assets. All these factors are resulting in reduced exports of textile machinery. According to some industry experts, growth of Indian textile machinery industry drop from 26% to only 7%.
Fibre2fashion had dialogue with Mr. Michael Enderle, Chairman - Rieter India and Head of Business Group India, and asked for his insights on current situation of textile Machinery industry
Fibre2fashion: How Indian Textile Machinery Market is performing in recent times?
Mr. Enderle: The textile machinery market in India is facing a temporary downturn which was caused by currency situation, drastic increase in raw material inputs and slower demand from US and European markets. Our customers also faced infrastructure deficiencies like power shortages and lack of availability of skilled manpower to run their units in an optimal manner.
Globally too, Rieter Group faces the effects of the cyclical downturn in the textile machinery markets. Rieter Group considers India as one of its key markets and serves its customers through Rieter India to reaffirm its commitment to the Indian market. Rieter is able to maintain its strong market position by virtue of its strong brand, good products, global presence and a committed workforce.
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