Announcing positive results, Shammi Nagpal, managing director, Messe Frankfurt India said, “The reaction of buyers and sellers at a fair, is like a barometer of the industry. Judging by the response of various discussions and surveys conducted at the fair, we can confidently conclude that Textile Days India was an overwhelming success and that business is alive and kicking in India. Techtextil India definitely provided the biggest boost to the Indian textile industry at this recessionary time. It highlighted brand new dimensions and innumerable opportunities for both domestic and international players alike. The Techtextil India Symposium registered a record attendance of more than 250 attendees, while Heimtextil India exhibitors were extremely satisfied with new business contacts. The Trend Seminar for the apparel textile industry T.W.I.S.T was met with an equally positive response.
According to Ms. Nagpa, it must be recalled that as the temperature of the recession furnace shot up, the Indian textile sector also felt the heat of the global meltdown. Prior to the onset of recessionary trends, India was experiencing a high growth trajectory ranking as one among the top five textile and apparel exporters. Clothing and home fashion retailers of the U.S. and Europe slashed their orders due to a slump in consumer spending trends. Export figures witnessed a dip of 35%. The Indian home furnishing industry saw export figures fall by almost 25%. Garment industry exports are likely to fall by 15% by 2009. This has subsequently resulted in extremely weak exports of apparel fabrics too.
Ms. Nagpal said, “The rising value of the rupee against the major currencies is the biggest challenge for the Indian textile industry as exports have lost the comparative advantage on the pricing front. The situation has further worsened because while the Indian rupee has appreciated by 12-15%, the currency of Pakistan, Bangladesh and China has appreciated marginally, thereby making their industries significantly more competitive than ours at least on the commodity side. Against this reality, a trade event like Textile Days India is the only platform to bring the industry together to form alliances and result in definite orders.”
She further added, “In these difficult economic times we are on the threshold of a fundamental change of values in the fair and exhibition business itself. The number of visitors is no longer the decisive factor for the success of an event. It is rather the significance, purchasing power and therefore, the quality of the visitors, that is gaining importance and we are very satisfied that Textile Days India delivered a quality business event with a substantial number of visitor levels to our exhibitors”
One company that reported positive results from the sow was UK-based Technical Absorbents Ltd. “IIndia offers an exciting market potential for TAL,” explained the company’s business development manager Dave Hill. “The country has a high skill-set in terms of scientific and technical manpower and huge levels of expertise within the textile market."
“TAL already has a presence in India through Business Co-ordination House (BCH) – which is a vital resource. The team has excellent links with both the global and Indian technical textile industries and has already been successful in introducing TAL to various companies, entrepreneurs, students, academicians and other industry stakeholders. TAL now has dedicated member of the BCH team to help it develop the India market even further and help follow up enquiries from trade exhibitions such as this.”