India Textile Industry Needs To Add 1000 Million New Spindles

India spinning and weaving enterprises need technical updates. In order to process surplus cotton production into value-added products, India needs a new 800-1000 million spindles, said the Southern textile factory Association of India (SIMA).

K Selvaraju, chairman of India Southern textile mill Association recently revealed to the media that the textile industry is in urgent need of updating technology, especially in the spinning and weaving industry. In order to achieve the goal set by the government, these enterprises need to expand their business scale and increase their added value.

The textile industry needs to add about 800-1000 new spindles to digest excess.

Selvaraju predicts that if the government implements loss control immediately, in the 2011-12 fiscal year, industrial production capacity will be expanded by at least 40 million spindles.

His three main spindles machinery manufacturers provide more than 300 thousand spindles per month.

According to the latest statistics of the most textile commissioners, a total of 552 textile factories were closed during November 2010, of which 471 were spinning mills and 81 were integrated textile mills. They installed 9 million 870 thousand spindles, 100 thousand rotors and 37 thousand looms, employing 306 thousand workers.

According to the textile Commissioner's report, this year

"The textile industry grew by 7%, which is expected to grow by 10%.

The Department of hand looms is negative growth.

Because the cost of production is too high.

In addition, he also pointed out that if the India textile sector had to compete in the global competition, the textile industry would continue to update and strengthen its textile and processing industries.

Nearly 1 million people are employed in the spinning industry, and India has installed 24% spindles in the global market.

According to the recent CRISIL survey, the textile industry will invest 206 billion rupees in 2009-10 to 2011-12 years, of which 44 billion rupees may enter the spinning industry.