The textile machinery industry in India has built an annual capacity to the tune of Rs 8,050 crore in the last over 50 years and has achieved the highest production of approximately Rs 6,200 crore during 2007-08. But its woes are far from over. The industry has been reeling under acute demand recession since last one year. For the first time, in its history, orders were signed by buyers, who avoided taking delivery. Spinning machinery manufacturers are the worst affected followed by weaving, processing and testing machinery manufacturers. The slowdown in the textile industry during 2008-09 led to negative growth of the textile engineering industry. The industry hopes the situation will improve during 2010-11.

According to a Textiles Committee Survey, the total provisional production of textile machinery, parts & accessories during 2008-2009 recorded a decrease of 34% at Rs 4,063 crore as against Rs 6,155 crore achieved during the previous year. The capacity utilisation increased to 76% in 2007-08 as compared to 71% in the preceding year. However, the demand recession in the last year faced by the industry had severely affected the capacity utilisation, bringing it down to 50% during 2008-09. The industry would be able to gear up its capacity further to meet the requirements of the textile industry provided there is demand and removal of fiscal irritants. Import of textile machinery has come down -- from Rs 7,240 crore during 2007-2008 to Rs 6,500 crore (estimated) during 2008-09. But this downtrend has not fully uplifted the industry's sagging spirit. There is, however, a silver lining in the dark clouds. Exports, which have been hovering around Rs 450 crore in the last many years, touched Rs 640 crore during 2007-08. In 2008-2009, it has been estimated at Rs 607 crore. Though this denotes a fall, the industry is optimistic about the growth of exports in the coming years.

As TMMA, the premier association of the textile machinery manufacturers, was celebrating its Golden Jubilee recently in Mumbai, the industry, whose fortune has been waning in the last one year, had only one hope to nurture – that the tide of fortune should return early 2010.