In his introductory remarks, Mr. N D Mhatre, Director General (Tech), stated that our members will benefit from today’s lecture given the significance of artificial intelligence in the current digital age. If we consider this technology to be an opportunity instead of
challenge, it will assist us in monitoring the attributes and features of the product as it moves from the field to overseas, which is crucial given that the textile industry is divided into decentralised sectors that make it extremely challenging to monitor the product’s flow.
We will benefit from today’s presentation as the data on marketing trends is essential for organising production, product, and promotional budget strategies for expanding the company.
Through an agreement they signed, Tata Power Solar and ITAMMA established a strategic partnership to promote solar adoption in India’s textile industry, understanding that green energy will help all people on the world, whether they survive or expand.
Under the “B K Mehta Technology Networking Mission,” ITAMMA unites academia, government agencies, research and industry associations, and textile engineering and manufacturing industry stakeholders on a single platform, promoting and emphasising a number of important industry innovation for the creation of pilot project initiatives in collaboration with stakeholders, bolstering Made in India’s ability to assist ATMA Nirbhar Bharat in the creation of “Viksit Bharat.” Through new initiatives and innovations by startups, the “Letter of Intent” signed by ITAMMA and Gujarat Student Startup and Innovation Hub (i-Hub) will support and further this goal.
The president of ITAMMA, Mr. Bhavesh Patel, greeted all the dignitaries with a bouquet and said that ITAMMA and its members have seized the chance to become digital in order to keep up with the rapidly evolving global trends, therefore ITAMMA also receives incentive to arrange for its members to participate in such programs on the newest technology.
In order to assist members in overcoming the global difficulties in technology and business, ITAMMA is collaborating closely with significant organisations such as TATA, i-hub, etc.
The Chief Guest, Ms. Roop Rashi (IA&AS), Textile Commissioner, Ministry of Textiles, presented Mr. Prakashbhai Shah, Chairman of Prashant Group of Industries, with a “Life-Time Achievement Award” and emphasised the value of “People rather than Profit.”
Government of India, as well as every office bearer and ITAMMA Managing Committee member. Mr. Prakash Shah, Chairman of the Prasad Group of Industries and PPI Pumps, was presented by Mr. Nimish Sanghvi, Chairman of the ITAMMA Gujarat Chapter. He has been working in the field for more than 55 years. He worked at Jyoti Industry after completing his engineering degree in the mechanical and electrical branches. In 1975, he then began producing liquid ring vacuum pumps.
He began with just four employees and has now expanded his operation to include more than 1000 individuals and 110000 square meters of top-notch infrastructure. One of India’s top groups for offering a one-stop shop for top-notch weaving is Prashant Group.
preparatory via a number of U.S. and European partnerships. The group holds the top spot in India. With a number of European partnerships and joint ventures, the Prasad Group is the biggest organisation in India specialising in plastic auxiliary equipment. One of India’s top producers of liquid ring vacuum pumps is PPI Pumps. The “RAJIV GANDHI NATIONAL UNITY AWARD” for Outstanding Services, Achievements, and Contributions has been given to Mr. Prakash Shah.
Additionally, he was named “AMA-ATLAS DYECHEM OUTSTANDING ENTREPRENEUR OF THE YEAR” for his exceptional efforts to bringing about technical innovation, fostering domestic technological development, turning obstacles into opportunities that lead to growth, and ongoing diversification. Additionally, Divya Bhaskar recently gave him the “BHARAT KE RATNA-GUJARAT SE” award in recognition of his exceptional work as an entrepreneur. Under his direction, Prashant Gamatex, a textile firm, received the Corp Excel Award for excellence in textile machines. Respected shri Pranav Mukherjee presented Mr. Prakash Shah with the prize.
“We believe in creativity rather than cost” is his philosophy. “We believe in people rather than profit” and “We believe in motivation rather than manufacturing.” Mr. Prakash Shah is actively engaged in social activities outside of business, supporting a range of initiatives in Gujarat and Bihar’s interior districts, such as four schools in Bihar for disadvantaged kids.
Residential schools, vocational training, bamboo plantations, check dams, subsidised food banks and several more initiatives for the betterment of tribal people are among the activities carried out in Gujarat’s Dhrampur district. He is actively associated with the Art of Leaving Foundation, works to elevate Khadi and Gramodyog, and has the vision to use cluster development to provide jobs for women in India’s interior villages.
Textile Commissioner and Chief Guest Ms. Roop Rashi suggested focussing on “Ecology rather than Economics.” She went on to say that in order to compete in the modern global market, sustainability must be given the attention it deserves and asked all the Members can use ITAMMA to send her ideas and/or issues, and her office will take the necessary steps to address them.
Textile machinery manufacturers are creating technologies to address sustainability in terms of lowering manufacturing waste, conserving energy and water, and creating yarns and fabrics from recycled and bio-based fibres in response to consumer demand and environmental concerns. It should be mentioned that digitisation and sustainability are closely intertwined.
During his lectures on the “Importance of Generative AI for SME of Indian Textile Engineering Industry,” Mr. Kedar Pandya, Director, SME Program of Wadhwani Foundation, stated that three out of four companies are now getting a return on their investment in Gen AI. 86% of Businesses who use Gen AI in production and observe revenue growth project increases of at least 6% in their yearly total revenue. Within six months, 84% of companies effectively turn a Gen AI use case concept into production. Within 12 months of going into production, businesses report a rise in yearly income that may be directly linked to Gen AI.
Presenting his presentations on “Marketing of Textile Machines and Components – it’s present trend and expected in future” was Mr. J. M. Balaji, Vice President of Lakshmi Ring Travellers (Coimbatore) Pvt. Ltd., Coimbatore.
Highlights: Important Events in 2024 Trend Reversal:
Indications of Recovery
The market for clothing and textiles is starting to rebound from the difficulties of 2023. The main forces behind this shift were a steady recovery in demand for casual and leisure clothing, an improvement in consumer attitude, and a reduction in supply chain interruptions. Even while the recovery is still modest, it suggests that the sector may be headed in the right direction.
After expressing gratitude to everyone, ITAMMA Vice-President Mr. Om Prakash Mantry stated in his Vote of Thanks that ITAMMA is already making efforts through its cluster development operations in By enlisting the help of several MoU Partners and industry experts, it keeps its members informed about the newest enterprises and innovations. Additionally, we are preparing them for the difficulties that lie ahead in this AI-driven digital age.