Indian Sellers to Miss Shanghai Textile Machinery Fair

While the whole world of textile machinery will be in the spotlight in Shanghai for five days this July, the Rs.20 billion ($494.4 million) Indian industry will be conspicuous by its absence due to a downturn in its business fortunes. The prestigious Shanghai event - ITMA Asia + CITME 2008 - from July 27 to 31 is organized jointly by the European Textile Manufacturers Association (Cematex) and China Textile Machinery Association (CTMA).

According to the sponsors of the event, the fair will be attended by textile machinery associations from Japan, the US, Taiwan as well as representative units from Belgium, France, Germany, Italy, Netherlands, Spain, Sweden and Britain.

Although India is ranked seventh in textile machinery production, it is not participating in the show due to financial constraints caused by production crunch in the wake of fall in exports, thanks to the rupee appreciation by almost 15 percent.

However textile producers from Surat are proceeding to Shanghai to know what is the latest on offer in China.

Source: yarnsandfibers.com