Value addition, nurturing of the end product and creating a stronger image of brand India was the primary intent that LMW has stood for and was voicing through innovations at their booth in ITMA, this year. R. Rajendran, Director Finance, LMW threw light on the positive step the company has taken towards this direction. In conversation with R.Rajendran.
ITMA Milan, 2015. How has the entire experience been for you?
The experience was very enriching. All the leading machinery manufacturers had displayed their new technologies in full swing at ITMA. There was a lot to learn. And incidentally almost everybody today all along the textile value chain is trying to increase the value of the end product. The effort is to value add at the last stage of production. If we closely observe the ongoing trend, we will clearly notice that the customers, the industry as a whole today are completely inclined to value addition and are seeking to revise the processes for value added end results.
How is LMW responding to this change in process with respect to end product value addition?
Based on the process of end product value addition the industry is under a revamp through backward integration. We have adopted the 'Make in India' concept since long. Owing to this principle we have been quite successfully manufacturing a series of machines ranging from blowroom to spinning frames. We shoulder our client's manufacturing process by bringing them indigenous machines for every process along the textile value chain. This is our cutting edge advantage that sets us ahead in the industry. Our customers use LMW machines to value add to their end products and then export 'Made in India' products to every part of the world. Our effort therefore does not stop at us making machines, but it extends towards creating a brand for India.
How do you account for the progress in the spinning sector of India?
Spinning since time immemorial has been a very steady industry. A stable one too. What has actually changed over the years is the introduction of technology and automation at every stage. This industry is definitely not a sunset industry and the progress will continue further in the future too. Even though the trend clearly shows a shift towards manmade fibres, but I will still confidently highlight that cotton will never lose its prominence. Different materials for spinning will also get prominence in the time to come and a bigger shift will happen all over the world shifting the prominence of the spinning industry to Asia as a whole. The changing trends, climate change, etc nothing is going to hamper the growth of this industry for sure.
How was the response for LMW at ITMA?
European visitors, visitors from Turkey and other parts of the world visited us in good numbers. They showed considerable interest in our machines and were ready to accept the technology on offer. This clearly shows that Indian machinery is in no way behind. We have takers and chances to shine big in the world market. Not only us, even Bangladesh and Vietnam have a very big scope of reigning the word market in the time to come.