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Technology Upgration
Fund Scheme |
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“Overseas buyers see India as a preferred
supplier next to China. But global buyers
are keen to do business with suppliers who
provide one-stop solutions and are able to
provide the volumes that they need. Indian
manufacturers realizing this,” adds
Texprocil Executive Director, Siddhartha
Rajagopal Retailers like Wal-Mart, Gap, H&M,
and JC Penny etc. are stepping up sourcing
requirements from India."
Buying volumes of many of their already in
the range of 10-20bin per year, with
reported plans to step up to 150bn within
the next 3 to 4 years. Analysts tracking the
sector also said the US-China textile pact
which restricts exports of 34 clothing and
the categories from China pact will also
allow India to strengthen its focus in the
export market.
The TUF scheme has greatly helped Indian
textile companies in increasing their
productions capabilities,” said vikram
suryavanshi, analyst with Stock broking.
But, here the problem is that not all firms
see the rosy pink Textiles companies, which
largely depend on exports, are facing
Pressures that are hitting margins “This can
be countered only by cutting costs or
increasing production. Our exports have come
down by 25%. We are concentrating on the
domestic market,” says Vinod Arora, aarvee
Denims.
The expansion will enable Indian Industry to
capture the $25-30bn market by
2013.According to Crisil, the sector is
likely to raise over 16,000 crore from the
capital markets in the next few years.
Clearly, a chunk of this would be earmarked
for capacity expansion as well as accepting
new facilities. Investments in the sector
are estimated at 20-25bn in these 2-3 years
and over 200bn by the end of 2010.clearly,
some see the growth with a corpus of Rs
25,000 crore, a scheme floated by the
government textile companies upgrade
technology as a lifesaver.
The latest data available with the Textile
Commissioner, textile units have picked up
nearly Rs 12,758 crore over the last three
years under the government of India’s
Technology Upgradation Fund Scheme (TUF)
which would see an addition of six million
spindles and 30,000 shuttle looms this year.
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