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Trade Talk | September 2015

TMMA 55th AGM focuses on exports, R&D

The Textile Machinery Manufacturers´ Association (TMMA) (India) hosted a 55th Annual General Meeting on August 13, 2015 at Sunset Lounge, Hotel Trident, Mumbai.

In his welcome address, Prakash K Bhagwati, Chairman, TMMA, welcomed Chief Guest Dr RA Mashelkar, National Research Professor, CSIR-National Chemical Laboratory. Dr Mashelkar is presently also the President of Global Research Alliance, a network of publicly funded R&D institutes from Asia-Pacific, Europe and USA with over 60,000 scientists.Speaking about the current economic scenario, Bhagwati said, ´India grew 7.5 per cent in the October-December quarter, according to the estimates released, overtaking China´s 7.3 per cent growth in the same quarter, to become the fastest growing major economy in the world. In order to maintain and surpass 7.5 per cent growth rate for future, new government is taking positive and effective steps. Make in India initiative of Prime Minister should benefit in general capital goods Industry like ours.¨

On production trends, Bhagwati said, ¨The total provisional production of textile machinery, parts & accessories during 2014-15 had recorded a slight increase of 3 per cent viz. Rs.6,960 crore as against Rs 6,775 crore achieved during the previous year with poor utilisation of installed capacity at 63 per cent. Proportion of local sales to imported sales of textile machinery has remained at level of 40:60 ratio. This ratio has become adverse in past years as second-hand shuttleless looms together with Chinese low tech looms continue to be imported at not only concessional or Zero rate of duty but also under favourable terms of TUF scheme.¨

On exports, he added: ¨The exports during 2014-15 had been estimated at Rs. 2,466 crores as against Rs. 2,277 crores achieved during 2013-14. We expect a good exports during 2015-16. Exports of TEI have been gaining rapidly on account of FDI who earmark part of their production for Asian developing countries.¨

After the introductory speech, Bhagwati revealed out the names of the new office bearers of TMMA for 2015-16. (See complete list of new officer bearers in the box)TMMA also presented Export and R&D Awards at the Annual Session of the Association. The organisation presented eight Awards for Export Excellence and four Awards for Research and Development for the year 2014-15.

List of Export Excellence awards include: Rieter India for TMMA Apex Export Award 2014-15; Lakshmi Machine Works Ltd for TMMA Segment Export Award 2014-15 for Machinery Sector; Inspiron Engineering for TMMA Segment Export Award 2014-15 for Parts & Accessories Sector; Premier Evolvics Pvt Ltd for TMMA Segment Export Award 2014-15 for Textile Testing, Monitoring & Controlling Instruments Sector; Truetzschler India for TMMA Special Export Award 2014-15 for Spinning Machinery Sector; Peass Industrial Engineers, Navsari for TMMA Special Export Award 2014-15 for Weaving Preparatory & Weaving Machinery; Kusters Calico Machinery for TMMA Special Export Award 2014-15 for Processing Machinery Sector; and Lakshmi Card Clothing for TMMA Special Export Award 2014-15 for Parts & Accessories Sector.

R&D awards include: Lakshmi Machine Works Ltd for their development of Card LC 363/361, Premier Evolvics for their development of Ultimo Roving Stop Motion and Veejay Lakshmi Engineering for their development of Energy Efficient Spindle Assembly for Two-For-One Twister Machine.

Dr RA Mashelkar, National Research Professor - CISR - National Chemical Laboratory, took us through his past and his journey so far.

R Rajendran, Incoming Chairman of the Association, proposed the vote of thanks.

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