SK Sundararaman, Chairman of the Southern India Mills Association (SIMA), emphasized the vision of creating a premium perception for the Indian textile industry at the inauguration of Texfair 2024. Texfair, one of India's largest international exhibitions for textile machinery and accessories, is organized by SIMA.
The 14th edition was inaugurated at the Codissia Trade Fair Complex by 'Ganapathi' Rajkumar, Member of Parliament for Coimbatore, alongside KV Srinivasan, President of ITMF, RakeshMehra, Chairman of CITI, and other dignitaries. The event will run until June 24, featuring 240 exhibitors, including over 75 international participants, showcasing advanced textile innovations.
Tamil Nadu, responsible for 45 per cent of India's spinning capacity and 33 per cent of its textile trade, aims for sustainable growth by continually upgrading technology, adopting cost-effective methods, and focusing on value addition and branding. Sundararaman highlighted the importance of accessing the latest innovations for growth.
MP Rajkumar assured support for addressing the challenges faced by MSMEs and the textile industry in Coimbatore, promising to advocate for them in parliament. He also mentioned the state's readiness to transfer land for Coimbatore airport's expansion to the Airports Authority of India (AAI), emphasizing the project's importance for regional development.
KV Srinivasan, President of ITMF, noted that China was the largest investor in new textile machinery in 2023 but has seen a decline in textile exports post-pandemic due to rising labor costs. He pointed out the opportunities for India, Bangladesh, and Vietnam to increase their apparel exports, particularly with the 'China+1 Strategy' adopted by global brands and retailers due to geopolitical shifts.
RakeshMehra, Chairman of CITI, urged the industry to prioritize sustainability, ESG, and modernization, highlighting the potential for increased exports in the current global scenario.
