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The textile industry on expansion mode

The textile industry on expansion mode 002Currently estimated at $110 billion, the Indian textile industry is likely to grow to $250 billion in the next two years. The country currently exports textiles worth $40 billion every year.

The last two years have witnessed a new surge of optimism in the textile sector as the centre has announced capital investment subsidy in segments such as garment, weaving and technical textile to help the sector. Rebate on state levies have been introduced to promote exports and additional 10 per cent subsidy on made ups and garment segments, leading to home textile industry getting a 25 per cent capital investment subsidy on new machines.

Textile companies across India are expanding their operations by entering into knitted fabric, or diversifying into denim fabric segment or into allied categories. Others are enjoying good export growth, not impacted by Indian market conditions. Few others are creating a niche with their focused products or target market. The growing demand of polyester is another big reason behind this expansion. A look at some of these ongoing expansion plans of the companies:

Sintex Group: The Sintex Group is globally recognised manufacturer of structured fabrics for high-end fashion shirting. The group’s fibre-to-fabric facility The textile industry on expansion mode 001at Kalol is one of the largest weaving units in India. It is setting up one of India’s largest compact yarn facilities with one million spindles, to be commissioned in a phased manner. The group commenced operations of Phase I comprising 3.06 lakh spindles spinning superior quality compact yarn for weaving and knitting operations during 2016-17.

Morarjee Textiles Ltd: Morarjee Mills has undertaken a backward integration project to integrate the manufacturing processes and reduce dependence on vendors of yarn and weaved fabric.The expansion project comprises expansion of the spinning facility by 40,128 spindles, weaving capacity increased by 112 looms, printing capacity enhanced by 78 lakh meters per annum, and installation of ‘Ready for Dyeing’ (RFD) machinery.

Nitin Spinners Ltd: Nitin Spinners is one of the leading producers of 100% cotton yarn and knitted fabrics at its plants at Hamirgarh in the Bhilwara district of Rajasthan. The company is setting up an integrated textiles unit with facilities from spinning to processing as a greenfield project. The unit will have the capability to manufacture all types of processed fabrics to meet the complete requirements of apparel manufacturers.

Sutlej Textiles and Industries: Sutlej Textiles and Industries is setting up a greenfield project to manufacture polyester staple fibre by recycling of pet bottles at Samba in Jammu & Kashmir. The company is setting up a recycled PSF plant of 80 MT/day capacity with product range of raw white recycle fibre & black recycle fibre. The project costing Rs. 110 crores is expected to be completed by the second quarter of 2020.

Sutlej has also invested around Rs. 51 crores in the first nine months of 2018-19 towards technology upgradation and debottlenecking. This will result in further improvement in efficiency and sustaining plant utilization.