The Hindu Business Line : Chinese team gauges textile machinery market

THE members of the Chinese textile conglomerate Hengtian's overseas trade arm, China Texmatech Co Ltd (CTMTC) had an open house meet here with the members of the local textile industry on Sunday .

The meet drew good response with the venue - the banquet hall of a city star-hotel - getting filled ahead of schedule.

The gathering had also had an unusually large number of the CEOs of textile companies, unlike in the past when such meets were usually represented by technicians and middle management cadres.

The ring spinning system for cotton textile spinning on offer from the Chinese group evoked a lot of interest.

The reasons were not far to seek as the majority of the invitees had firmed up their investment plans for expansion of spinning capacity. Moreover, some of them had put on hold these projects for want of delivery of the new spinning frames from domestic producers.

The Chinese delegation's visit also evoked interest as Coimbatore was home to the country's leading ring spinning system producer, Lakshmi Machine Works. Hence the invitees were curious about the machineries on offer from the Hengtian stable, in terms of technology, quality of machines, delivery and pricing.

Mr Liu Haitao, the Hengtian group Vice-Chairman, said the delegation had come to India with a view to understanding the market here for textile machinery. While appreciating the Indian textile machinery industry for its quality consciousness, he said his group looked forward to working in India for long term.

Mr S.V. Arumugham, Deputy Chairman of the Southern India Mills Association (SIMA), which co-organised the meet with the cotton textile export promotion council (Texprocil), was of the view that India required an investment of Rs 1.40 lakh crore for modernisation within the next four years and 40 per cent of this should take place in the southern States.

The association was planning to send a technical team to China to undertake an in-depth study.

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