The second edition of International Textiles, Weaving Machinery and Accessories Expo, Weave Tex Tech 2015 was held at Texvalley. This expo creates an interface between buyers and sellers and is aimed at revitalising the economy through expansion of the product base. Presented by Hi-Tech International Trade Fair India, and supported by Texvalley SSM College of Engineering Komarapalayam and PDEXCIL (Powerloom Development and Export Promotion Council), the three-day expo features several kinds of machineries such as the latest powerloom, dyeing, sizing and warping machineries and boiler parts, as well as embroidery and printing machineries.
At the inaugural session, Pdexcil Chairman, M Duraisamy stated that the sector in Tamil Nadu, which accounts for over five lakh out of 22 lakh looms in the country, requires better support from the Central Government. He further added that experts were concerned regarding the scaling down of TUF (Textile Upgradation Fund) expenditure to Rs 1,500 crores from Rs. 1,800 crores last year, against the requirement of Rs 5,000 crores.
Moreover, the textile sector is not happy with the foreign trade policy and Duraisamy feels that incentives for export must be restored. This would help the industry to withstand and overcome stiff competition from China, Pakistan, Bangladesh and Vietnam. The speakers also stressed on the need for conducive policy support to ensure economic progress through the job-intensive industry.
