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Chinese
machines make inroads into Indian industry
Even as Chinese textile machinery is considered
to be of a lower quality than Indian and other machinery makes,
it has begun making in-roads into India. This is mainly due to the
low prices, and in some cases commensurate or higher productivity.
If this trend strengthens, it could further hurt the Indian machinery
manufacturers who are already facing stiff competition. Reena Mital
and Sudha Swaminathan report.
Chinese
textile machinery will not impact Indian manufacturers
A large section of the textile engineering
industry believes that the Chinese textile machinery manufacturers
pose no threat for the Indian textile engineering sector.
Wind
energy cheaper, better alternative for textiles
“In the context of globalisation,
it is important for the textile industry to be competitive. The
cost of power plays a crucial role and it is essential to obtain
power at low costs. Wind energy is very beneficial for this purpose.”
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"In the local market, cotton
futures is at a nascent stage and we are trying to customise the
cotton futures contract as per investor requirements."
- Jignesh Shah, managing director,
Multi Commodity Exchange (MCX) commenting on cotton futures in the
country.
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