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Monday, 20 June 2022

SIMA Texfair-2022 expected to generate business worth Rs. 1,500 crore

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With more than 220 exhibitors displaying machinery and accessories in 300+ stalls, the much-awaited textile machinery event– SIMA Texfair-2022 of Southern India Mills’ Association– will be organised in Coimbatore from 24 to 27 June.

It’s worth mentioning that the exhibition has not been held since last two years because of the pandemic.

Ravi Sam, Chairman and S.K. Sundararaman, Deputy Chairman, SIMA told the media that the focus this year will be on import substitution.

Notably, Union Minister for Textiles Piyush Goyal will inaugurate the 13th edition of the event.

The exhibition, reportedly, will be a platform for the introduction of around 50 products. Importantly,the business generated from the previous edition of the fair was worth Rs. 1,000 crore, which this year is expected to  touch Rs. 1,500 crore.

SK Sundararaman said that for any textile machinery, the waiting period now is at least six months. The demand for textile machinery has shot up. On average, a textile mill invests 2.5 per cent to 3 per cent of its annual sales turnover in spares and accessories, and 4 per cent to 6 per cent in modernisation.

Source : https://in.apparelresources.com/