Textile machinery sector asked to keep pace with world technology trends

摘要

During 2004-05 to 2006-07, the working of both textile and machinery industries was encouraging. However, working of the textile industry during the last one year has been adversely affected by the steep appreciation of the rupee, increase in interest rates, rise in cotton prices despite bumper crop, hike in the cost of power and acute power shortage, as also economic slowdown the world over. Against this background, textile units in the country are currently not keen to invest in plant and machinery. On the other hand, they are waiting for normal conditions to emerge to resume investments. Since the fortunes of the textile and machinery industries are closely intertwined, the machinery industry is also facing a serious demand slump.