The Southern India Mills’ Association (SIMA) successfully inaugurated the 14th edition of the Textile Machinery, Accessories, and Spares Exhibition, TEXFAIR 2024, at 10 AM today. The event saw a robust participation from industry leaders and exhibitors from across the globe, including Switzerland, Belgium, Italy, Japan, and China.
The inaugural function was graced by Hon’ble Member of Parliament for Coimbatore Constituency, Shri Ganapathi P Rajkumar, and notable industry figures such as Dr. K V Srinivasan, President of ITMF, Dr. S K Sundararaman, Chairman of SIMA, Shri Durai Palanisamy, Deputy Chairman of SIMA, and Shri S Krishnakumar, Vice-Chairman of SIMA.
During the event, CITI Chairman, Shri Rakesh Mehra, highlighted the pivotal role of TEXFAIR in showcasing the latest innovations in textile machinery and enhancing industry knowledge.
“The Textile & Apparel sector is a cornerstone of the Indian economy, generating employment for approximately 105 million people and contributing to 8% of India’s total merchandise exports. Despite recent global challenges, the sector has demonstrated resilience, with significant growth in exports, particularly to the USA,” stated Shri Rakesh Mehra.
Shri Mehra emphasized the optimistic outlook for the Indian Textile Industry, which is set to become a US$ 350 billion market by 2030, driven by a growing economy, urbanization, rising incomes, and supportive government policies. He underscored Tamil Nadu’s vital role, with its strong ecosystem in textile sub-sectors and significant contributions to employment and exports.
“Tamil Nadu, with its comprehensive textile ecosystem and the forthcoming PM MITRA Park in Virudhnagar, stands out as a premier investment destination. To achieve our ambitious targets, we need substantial capacity additions across the value chain, presenting significant opportunities for textile machinery manufacturers. The industry must focus on sustainable technologies, digital innovation, and efficiency,” added Shri Mehra.
CITI is committed to supporting the digital and sustainable transformation of the textile industry through increased awareness, guidance documents, and capacity building, in collaboration with industry partners. CITI extends its gratitude to SIMA for organizing TEXFAIR 2024 and wishes them success in their future endeavors.
