What new did you showcase at ITMA 2019?
We showcased our automatic sectional warping machine at ITMA Barcelona. This is not a new innovation, but we have added some new features to the machine. To the best of my knowledge, I don’t think anyone in the industry makes this kind technology which we manufacture. In a typical sectional warping machine, it takes a lot of time in doing the manual work, but with our machine, once the warping starts, the robot completes the entire process. It’s a complete automation technology.
How was the response?
The response was good. We received customers from all parts of the world. We got a good response for our automatic sectional warping machine as well as for other machines.
Indian textile industry is slowing down. Have you felt the impact?
We have not felt the impact yet. But overall, yes the Indian textile industry has witnessed a slow down in the last six-eight months. But things will improve, so let’s hope for the best.
The Indian textile engineering industry is coming of age. Do you think that we are gradually posing a threat to European counterparts?
Yes, Indian engineering industry is doing really very good. Everybody is trying to implement new technologies. As far as threat to European technology is concerned, I really don’t think so. If we talk about German or Swedish technology, their engineering is very good.
We still have to reach those standards. But if we compare Indian machines with other European countries like, Italy, Spain or Turkey, then we definitely have added advantages. So it depends, even in India we will find some manufacturers have extraordinary technologies. In the same way in Europe also some countries are technologically more advanced.
Some 20 years back, there were so many companies in Europe, Today only a few exist. I think the companies that have closed down in Europe are either taken over by Chinese or some Indian companies. Therefore it would not be right to say that we are a threat to Europeans. It’s all about survival of the fittest, whoever does well will survive, whether it is European, Indian or Chinese.
Other than India where all are investments happening in the textile industry?
Other than India, main investments are happening is Bangladesh, Pakistan and Indonesia. Some investments are happening in Europe too. African countries are not doing good, but few investments are on in Brazil.
Has US-China trade war impacted Prashant Group?
Not yet. But probably in the next 3-4 months we might feel some impact of the trade war. China would be desperate to sell its products and machinery and India’s domestic demand is very high.
One of my customers shared with me recently that they have already started getting orders from a US-based company, US companies plan their orders three month in advance, so because of this sanction, they have forwarded their orders already to India. So when they will grow, we will have more demand and we too will grow.
Any message you would like to give to the industry?
In our industry, we have to invest in R&D and innovation, and give our best to the industry.
We should learn to adopt the new technologies which are the best in the world. The motto of our group from the beginning is to give world class technology at the right price and we are following that.