Machinery industry should modernise.

This article offers updates from the textile machinery industry in India as of November 2003. There are over 600 units in the country, employing directly about 30,000 workers and exporting 20 percent of its annual production to over 50 countries. The industry was meeting more than 80 percent of the total domestic demand until 1991-1992, however, during the Ninth Plan period, the domestic demand was between 38 to 46 percent. This was revealed by Syed Shahnawaz Hussain, Union Minister for Textiles at the commemorative function of the diamond jubilee celebrations of the Association of Merchants and Manufacturers of Textile Stores and Machinery in Mumbai, India. Technological obsolescence in textile machinery industry has inhibited its capacity to produce high-technology machines. The textiles minister said that the Indian government has set a target of induction of 2.5-lakh semi-automatic/automatic shuttle loom and 50,000 shutleless looms. Since the weavers may find it difficult to afford the cost of installation of modern looms, feasibility of providing up front assistance to this sector and also an increased interest reimbursement are under active consideration of the government.