TMMA's 65th Annual General Meeting: Charting the Future of India's Textile Machinery Sector

The Textile Machinery Manufacturers' Association (India) successfully organised its 65th Annual General Meeting (AGM), Export and R&D Awards Function, and a high-level stakeholder consultation at the India ITME Centre, Mumbai. The event brought together industry leaders, policymakers, and innovators to reflect on the current state of the textile machinery sector and chart the path forward.

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Distinguished Gathering

The event was graced by Mr Rohit Kansal, Additional Secretary, Ministry of Textiles, Government of India, as the Chief Guest, and Dr M. Beena, Textile Commissioner, as the Guest of Honour, along with senior dignitaries, past chairpersons, and members of the association.

New Leadership for 2025-27

TMMA elected its office bearers for the biennium FY 2025-26 & 2026-27:

• Chairman: Mr Prashant Mangukia (Yamuna Machine Works)

• First Vice Chairman: Mr Chintan Thumar (Weavetech Engineers Ltd.)

• Second Vice Chairman: Mr N. K. Brahmachari (Amritlakshmi Machine Works)

• Honorary Treasurer: Mr Ganesh Shanoy (Tex-Fab Industries Pvt. Ltd.)

Global Economic Context

Outgoing Chairman Mr M. Sankar ighlighted that FY 2024-25 was marked by considerable challenges globally. The global economy expanded at a modest 3.1%, with inflation moderating to 5.4% on average. However, India stood out with robust growth of 6.5% in real terms, powered by strong domestic demand, healthy investment, and a vibrant services sector, making it one of the fastest-growing large economies.

Textile Engineering Industry Performance

The Textile Engineering Industry (TEI) faced a demanding year with significant setbacks:

• Production declined by nearly 29%, reaching ₹10,461 crores compared to ₹14,639 crores in the preceding year

• Exports fell by almost 50%, severely impacted by international market conditions

• Capacity utilisation slipped from above 80% to closer to 60%

• Spinning, hosiery, and accessories segments experienced sharp downturns