The Hindu Business Line : Reliance, Raymond in talks with Australian wool co

THREE Indian textile companies are in talks with Australia Wool Innovation Ltd (AIWL) for setting up joint ventures to produce quality garment from Australian wool.

"Raymond, Reliance and Modern have held talks with us to form joint ventures. More Indian companies are showing interest," said Dr Len Stephens, Chief Executive Officer, AIWL.

AIWL is an independent public company owned by Australian wool growers. As part of efforts to promote new wool uses, products and access to markets, AIWL is keen on encouraging use of Australian wool in quality textiles produced in other nations.

Towards this, AIWL provides technological help and funds. Besides, it also extends results of its research and development. For this, the firm forms joint ventures with identified textile firms.

"The textile firms will have to roll out quality garments for both domestic and export markets," Dr Stephens said.

"Wool makes up three per cent of global apparel market and we are interested in working with companies that spin and weave wool," he said.

"People usually approach through our Web site and that is how we get more contacts for our wool. Company interested in working with us first apply for funds and then we scrutinise their application," Dr Stephens said.

Stating that AIWL did not provide funds for marketing and product promotion, he said the firm was also involved in genetics, particularly cloning. "Raymond is partly involved in this," he said.

"Cash investment by us is minimum. We have now started working with textile machinery manufacturers also. They will produce machineries that can spin and weave quality wool products," Dr Stephens said.

Murata, a Japanese firm, is currently involved in the project to help cotton spinning mills to spin wool easily.

"Our primary objective is to increase the efficiency in use of Australian wool. Towards this end, we constantly seek details on use of our wool. If we don't get the information, we stop the funding," he said.

AIWL is also keen on providing experts in wool spinning to both India and China. "India and China do not have enough wool experts. We are now trying to encourage both countries to produce more of them. For this, we have begun a project in China by tying up with its there. We are examining a similar proposal for India," Dr Stephens said.