Southern India Mills’ Association (SIMA) has got a new team of office bearers for the second term, for the year 2018-19. P Nataraj, MD, KPR Mill Limited and K.Vinayakam, MD, SCM Textile Spinners who is also the MD of The Chennai Silks, were unanimously re-elected as the Chairman and Deputy Chairman, respectively.
Ashwin Chandran, CMD, Precot Meridien Limited has also been unanimously re-elected as the association’s Vice-Chairman.
The 59th Annual General Meeting of SIMA took place on 7th September. Immediately after the AGM, the new members of the committee at its 1st meeting unanimously re-elected the office bearers. SIMA’s 12th CEO Conference ‘Texpin’ also took place along with AGM.
Addressing the AGM, P Nataraj said that despite all challenges Indian textile industry will grow at good pace. “Rising per capita income, favourable demographics and shift in preference to branded products are expected to boost the demand of the textiles and clothing products in the coming years. Rising urban population (as per World Bank it accounts for around 33%) and female workforce participation complemented with huge young population and rising income are expected to increase the domestic clothing demand exponentially. Therefore, we need to adopt suitable strategies to achieve a sustained growth rate.” he added.
Natraj further shared, the textile business size has grown from US $ 70 billion during 2009 to around US$ 150 billion during 2017 and was growing at a CAGR of 13.58 per cent.
