India:Demand for textile machinery goes up

Following end of quota restrictions, at the begining this year, the Indian textile machinery manufacturers have experienced steady stream of orders for their machines.

As a result the capacity utilization of the manufacturing units have also gone up considerably between 50 to 60-80 percent (up from 30 percent few years ago) reports Textile Engineering Industry (TEI).

However, backed by the demand and stepping up of the capacity utilization, textile machinery manufacturers are today bent at raising their production capacity through investments and upgradation of their facilities.

Even the industry wants Government of India finalize within 2-3 months to set up a modernisation capital fund for TEI as a move to energise the sector.

An estimate of Rs300 crore for the TEI is sought towards its modernisation, industry sources revealed.

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