India Textile Faces Lower Demand For Textile Machinery
Abstract: the textile industry in India feels that the textile industry is cooling down. Demand for textile machinery has also begun to decrease, and most textile companies either abandon plans or close businesses. In addition to some unfavorable factors, such as currency instability and rising raw material prices, the textile industry has also been affected by the slowdown in the US economy. India's exports to the United States account for about 35% of India's textile output.
The textile industry in India feels that the textile industry is cooling down. Demand for textile machinery has also begun to decrease, and most textile companies either abandon plans or close businesses. In addition to some unfavorable factors, such as currency instability and rising raw material prices, the textile industry has also been affected by the slowdown in the US economy. India's exports to the United States account for about 35% of India's textile output.
According to the data provided by the Commission, China's fixed asset investment has also begun to decrease. All factors will lead to a decline in the export of textile machinery. According to some industry experts, the growth of India's textile machinery industry dropped from 26% to 7%.
India media Fibre2fashion Rieter, India and India business President MichaelEnderle have made an exclusive interview on the current situation of the textile machinery industry.
Fibre2fashion:印度纺织机器市场近期表现如何？
Mr. Enderle: the textile machinery market in India is facing a temporary downturn because of the unstable monetary situation, the substantial increase in the means of production, and the slowing demand in the US and Europe. Our customers are also faced with the impact of lack of infrastructure, such as power shortages and shortage of skilled workers, and business operations cannot be kept at their best.
Similarly, the global situation is facing the negative impact of the downturn in the textile market. Lida group thinks India is an important market, and Lida Group provides services to customers through Lida India. Lida maintains a strong market share through brand names, quality products, global influence and loyalty to the enterprise team.
Fibre2fashion:印度立达如何完成目标，您近期的预期是什么？
Mr. Enderle: in the near future, we are consolidating our business, completing our existing orders and maintaining close relationship with our customers. In the medium term, Lida plans to introduce products into India to achieve localized production in India. With the highly localization, advanced technology will better meet the needs of India customers. Lida is very optimistic about the prospect of India's textile industry and hopes to succeed in India. Recently, Lida Group invested 2 billion 500 million rupees in India Maharashtra state to produce spinning machines, and a memorandum of understanding has been signed in September 2008.
Rieter is a large spinning machinery manufacturer in Switzerland. Lida India is a subsidiary of Lida Group in India.
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