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Trade Talk | November 2018

Increase in export to third-world countries: TMMA AGM

The Textile Machinery Manufacturers’ Association (TMMA), Mumbai organised its annual general meeting (AGM) on September 27, 2018 at Hotel Trident, Mumbai. Sanjay K Jain, Chairman Confederation of Indian Textile Industry (CITI), was the chief guest for the evening.

During his speech, Mehul Trivedi, Chairman, TMMA, said “Indian economy is showing signs of recovery on the back of strong support from all sectors. India has inched up its position to become the 6th largest economy in the world overtaking France.”

He provided an overall economic scenario. He said, “The Financial year 2017-18 has been a challenging year for India’s economy. The implementation of structural reforms including, demonetisation and GST had an impact on the GDP growth. The growth was slow, down to four-year low at 6.7 per cent in fiscal year 2017-18.

The GDP was 7.1 per cent in 2016-17 against 8 per cent in 2015-16. It was 7.5 per cent in 2014-15. However, the various proactive initiatives taken by the Government enabled the textile/ textile engineering industry to mitigate the challenges and revive from the recession. India’s GDP is expected to grow at 7.5 per cent in the next two years.”

He added, “The Index of Industrial Production (IIP) was dipped by 4.3 per cent in 2017-18 as against 4.6 per cent in 2016-17. The manufacturing growth stood at 4.5 per cent in 2017-18 as against 4.4 per cent in 2016-17. The capital goods sector with an unfavorable base effect showed a year on year contraction of 1.8 per cent in March 2018 as against an increase of 9.4 per cent in March 2017. The sector is showing signs of revival which is likely to improve in 2018 due to increase in capacity utilisation, productivity, orders, sales and investments.”

“Exports too are poised to grow at a faster pace in the current fiscal year. India’s exports after a gap of 6 year rose by 9.8 per cent to US$ 302.84 billion during 2017-18 as against US$ 275.80 billion in 2016-17. During 2017-18 imports increased by 20 per cent to $459.70 billion as against $384.40 billion in 2016-17,” added Trivedi. During the event, Export Promotion and R&D Awards was given. Winners of the awards were: Saurer Textile Solutions Pvt Ltd, Vadodara with Apex Export Award; Rieter India for machinery sector; InspirOn Engineering, Ahmedabad for Parts & Accessories sector; Premier Evolvics, Coimbatore for Textile Testing, Monitoring & Controlling Instruments sector; Lakshmi Machine Works Ltd, Coimbatore for spinning machinery sector; Yamuna Machine Works Ltd., Mumbai for processing machinery sector; and Lakshmi Card Clothing Mfg, Coimbatore for Parts and Accessories Sector. Coimbatore-based LMW also won the Research & Development award for their innovation in “Draw Frame LDF 3”.

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Ltd      Voltas Ltd      Weavetech Engineering Pvt Ltd      Yale Synthlube Industries      A.T.E Enterprises Pvt Ltd      A.T.E Huber Envirotech Pvt Ltd      AB Carter India Pvt Ltd      ACIMIT- ITALY      Advanced Graphic Systems      Angel Mechtronik      Apsom Technologies (India) Pvt Ltd      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Barnet India Pvt Ltd      Batliboi Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Bharat Bijilee Ltd      Biancalani Srl      Bracker AG (Rieter)      Bruckner Textile Technology GmbH & Co Kg      C.Gheewala And Co.      Colorjet India Ltd      Condair      DCC Print Vision LLP      Dhara Engineering Works      DN Associates      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fadis India Pvt Ltd      Fourwents Engineering Company      Gandhi Automations Pvt Ltd      Gem Equipments Ltd      Groz-Beckert Asia Pvt Ltd      Indigo Prints Smart Pvt Ltd      Innova Machines      Inspiron Engineering Pvt Ltd      ITEMA WEAVING (INDIA) PVT LTD      Jaysynth Dyestuff ( India) Pvt Ltd      Jogindra Industries Pvt Ltd      Jumac Manufacturing Pvt.Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Kirloskar Brothers Ltd      Konica Electronics Enterprise      Kusters Calico Machinery Pvt Ltd      Labelmach      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine works Ltd      Loepfe Brothers Ltd (Masterline)      Luwa India Pvt Ltd      MAG Solvics Pvt Ltd      Marvel Gloves Industries      Mayer & Cie. GmbH & Co. KG      Mayur Reeds And Healds Pvt Ltd      MESDAN India Pvt Ltd      Mohler Machine Works Pvt Ltd      Nestling Technologies      Peass Industrial Engineers Pvt Ltd      Perfect Equipment Pvt.Ltd      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Precision Rubber Industries Pvt Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Rieter India Pvt. Ltd      Sabar Machine Tools Mfg. Co.      Savio India Ltd      Savio Texcone (P) Ltd      Schoch Reeds India      Shakti Textile      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      Sopromatex (UCMTF)      SRE Corporation      Sri Lakshmi Fire Controls      Stovec Industries Ltd      Sudarshan Gears      Sunrise Industries      Swissmem      Texcoms Textile Solution (E-Products INC)      Texfab Engineers (India) Pvt Ltd      Thies GmbH and Co.      Thymas Electronics Pvt Ltd      Truetzschler India Pvt Ltd      Umargaon Textile Machinery Pvt Ltd      Unitop Aquacare      Vetal Hitech Machines Pvt. Ltd      Voltas Ltd      Weavetech Engineering Pvt Ltd      Yale Synthlube Industries