CII Associations’ Council (ASCON) is an important forum of CII which brings together National level Associations from across sectors on a common platform.
The latest edition of this summit recently concluded in New Delhi.
During the summit, Union Minister for Textile, Hon Piyush Goyal emphasised on manufacturing high-quality machinery and products that can be easily exported.
He mentioned that the recently launched PLI scheme for textiles is a step towards an Aatmanirbhar Bharat.
It will boost the textile industry and will enable in establishing a number of globally reputed companies.
Through these steps, the government is advocating reducing dependence on Imported machine tools and creating machinery manufacturing eco-system to meet the gap with domestic machinery production and demand.
The Direct to fabric printers from the house of Colorjet have in-built water filtration system that reduces water consumption by 98%.
The compact and energy efficient DTF printers offer 42% less energy consumption.
Pigment and sublimation printing provides zero water consuming printing solutions.
TMMA(I) proposed to bring in policy for supporting technology R&D and its commercialization.
Issues related to Infrastructure, Liquidity, Used Machine Import, Inverted Duty, Old FTA and GST Reimbursement were raised.
Besides ideas to bring schemes for brand building, Mega clusters, PLI for Indian TEI, IPR Timeline, and Scrapping Old machines were recommended.
The Indian Textile Engineering Industry (TEI), with a negative CAGR of -4% in 2014-15 is expected to grow to a CAGR of 7.39% by 2025-26.
This is a result of rising demand in the textile printing industry.
ColorJet is contributing to Regional Value Content (RVC) with an addition of more than 50% and has entered into trade agreement under AIFTA (Asian-India Free Trade Area) cooperation between The Republic of India & the South East Asian Nations.
ColorJet customers will get the benefit of zero MNF tariff rates.
In the end, ColorJet seek support for from Honourable Cabinet Minister Piyush Goyal for future research and development.
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