Interview with Mr. Chintan Thumar, Director of Alidhara Weavetech
Your Brand name : Weavetech
Your Company name : Weavetech
Brand Tagline : The Best Value Is Here
Segment : Spinning – Yarn Twisting
What Inspired you to Start A Company in Textile Machinery and what is Purpose behind it?
The company was started in 1984. It was started basically to create import substitution for Japanese machines. During that time in 1980s when Indian companies were struggling, the only dependency they had was on Japanese machines or European machines. The delivery time and the headache of dealing with Europeans were high. To this constraint, we started developing substitute parts of machineries in India and that eventually led to us developing machinery.
What all Challenges / Hardship you faced during the journey?
There were issues related to branding. People did not trust Indian technologies then. However, now 8 out of top 10 companies in filament have our machines. So there has been a change in the past 20 years.
What is your Achievement till date?
We have become a single stop solution for all twisting needs. If there is any yarn whether it is manmade, natural / technical or anything, we have twisting solution. So, this is probably one of the few companies in the world which has solutions for all types of machines related to yarns, as long as related to twisting.
In which countries/continents do you focus on for exports?
We focus mainly on South Asia such as Indonesia, Bangladesh & Pakistan. We also focus on Brazil in Latin America.
In your experience, what kind of customer requirements you have had to cater to, while manufacturing your product?
Our products are mainly benchmarked with global suppliers and luckily, with the client list that we have, we are able to prove that our products are matching the global standards that customers are looking for.
What has been your approach towards product innovation?We spend around 7% of our revenues in R&D. We have a separate R&D centre in Surat with more than 30 Engineers including M.Tech & PhDs along with various skilled workforces. Our special R&D centre is dedicated for development of new twisting technologies for different yarns. With the vision of Make in India, we are focusing on defence applications also where the yarns related to defence like kevlar, carbon fibre are being used.
How has the scenario of textile machinery changed over the years in India?
The textile machinery industry has not grown as fast as the textile industry as such. The subsidies in imported machineries still discourage the production of high tech machineries. So that is an issue. But with the new government policies coming in, we hope that the textile machinery will grow tremendously as the government is now focusing on subsidizing development work also.
How has your company kept pace with technological up gradation over the years?
We tend to attend all the exhibitions in the world. We have tie-ups to various research institutes in India as well as outside India along with being members of many developmental committees & associations.
What is your take on TUFS/ATUFS?
Whenever you introduce subsidies, there are chances of generating fake demand for products that leads to over-supply, similar to what is happening in various segments today. Additionally, delay in clarification & renewal of subsidy schemes also lead to fluctuations in demand which acts negatively on the entire machinery industry.
Also, India loses a lot of foreign exchange on the imported machineries due to TUFS. Subsidies on imported machines end up generating lakhs of jobs in hi-tech sectors overseas. Our wish is to introduce TUFS subsidy only for Made-In-India equipment & help generate lakhs of hi-tech jobs within India.
What has been the impact of GST on your business?
The impact of GST has been on positive front. The cost of product has decreased and our selling price is coming down now. We are able to get lot of input credits so we are able to pass on lot of benefits. Additionally, many of our customers were unable to take Excise credit earlier but with GST, their investment cost has also come down.
What are the current issues being faced by your segment? Do you have any suggestions for improvement?
The major issues we are facing are lack of clarity & timely decision making by government on subsidy renewals / updates / clarifications. Because of that the project schedules are getting disturbed.
What is your take on the future scenario of your segment in the domestic as well as global market?
We are very positive about it. Demands are increasing and we do believe that soon whatever targets the government has set in terms of exports, are achievable. On this basis, we see a very fast double digit growth rate for textile industry.
What is the USP of your Brand?
We develop indigenous technology which basically offers the best value in terms of operating cost and capital cost. We limit our technology where an Indian unskilled operator is able to use it comfortably and without getting intimidated. So, we develop technology keeping the Indian environment in mind.
What new Technology/Innovation you had introduced in the Exhibition?
We have introduced energy saving twisting machines. Also compared to any global technology, our operating cost in terms of energy is almost 30% lower.
In your segment, what technology are you expecting in the future?
We are expecting more automation in terms of machine flexibility. As of now most of the machines that are made are dedicated to a specific segment or specific type of yarns. We are developing technology that will allow us to be more flexible on different kinds of yarns which will allow our customers to respond to market changes very effectively & efficiently.
Do customers demand certain specific requirements, inspired from European technologies?
Yes, there is a small segment of clients that demand automation that is at a level which is still not affordable to the major Indian segment. We are able to give that technology also as customization. In that case, the costing doesn’t differ much from the European technologies. However, our main focus is to give technology that is acceptable to the larger segment.
Who are your major clients?
Alok Industries, Arvind, Century Rayon, Coats, Dicitex, Donear, Garware, Guetermann, Habasit, Indian Rayon, JCT, Mafatlal, Modern Woollens, RSWM, SIMTA, Siyarams, SRF, Welspun & many more reputed institutes.