INDIAN TEXTILE INDUSTRY SHOULD DIVERSIFY; DEPENDENCY ONLY ON COTTON NOT HEALTHY

LRT is a market leader globally in Ring Travellers and catering to the requirements of over 5500 spinning mills in over 40 countries.

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Over 60 Million spindles are working with LRT – Ring Travellers. In the changing dynamics of the textile trade, J.M. Balaji, Head – Marketing, LRT, speaks exclusively to Textile Value Chain on the need for the industry to diversify.

Textile industry is going through turbulent times globally. But the Indian market is showing signs of improvement. We hope in the next few months there will be a improvement compared to the slow down we had in the last one year. As far as machinery purchase is concerned people are having a wait and watch approach. The decision for machinery purchase taken a long time back, who had delayed purchasing it, are now going for the actual purchase. Some are going for modernization. In case the spinning industry does not modernize, they will not be able to compete.