"The textile industry has a remarkable future, but there will be a stiff competition in the global arena. One has to remain fit to grab opportunities. With China shifting its focus on manufacturing activities, India, currently the second largest textile manufacturing country in the world, could become the global leaders in this front in the coming decade. For this, manufacturers should concentrate on innovation, energy services, automation and online control to become globally competitive," Periyasamy said.
He said the textile industry should work to its potential by making the best use of special schemes announced by the central and state governments.
The four-day international fair, organised by the Southern India Mills' Association (SIMA), is expected to showcase modern developments in the industry. Speaking on the occasion, president of SIMA, M Senthilkumar, said "Textile mills on an average spend 2.5%-3% of their annual turnover on spares and accessories and 4%-6% on modernisation. We hope that this fair would be an ideal platform for these mills to zero in on their requirements, meet all suppliers under one roof and plan their investments, cost cutting options and ways to improve their quality."
The 10th edition of event has 220 exhibitors displaying their products across 231 stalls. Major products on display are textile machinery, spares, accessories, testing equipment and electrical and electronic components.
The chairman of SIMA, Senthilkumar, said event features exhibitors from China and Italy, besides Gujarat, New Delhi, Goa, Maharashtra and Punjab.
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