By Arun Rao
Stovec Industries Ltd. (Stovec), an Indian subsidiary of Dutch company SPG Prints, hopes to significantly increase the rotary textile printing machines and accessories business in the coming years. Said Mr. Shailesh Wani, Managing Director, Stovec: “With the kind of orders we have on hand and enquiries which we are receiving currently, Stovec may end up selling significantly higher numbers”.
To fulfill these orders on time, Stovec has already increased its rotary textile printing machine production capacity to meet the growing market demand.
Stovec’s exports account for about five per cent of its total revenues, and the management is working towards increasing it, and has started looking at countries like Indonesia, China, Bangladesh and Turkey which contribute to the major portion of rotary printing business globally.
In an exclusive interview with The Textile Magazine, Mr. Wani shared his views on the impact of the revival of the global economy on Stovec, the emerging technological trends in the textile printing sector and the ‘Make in India’ program.
With the global economy reviving from a long period of crisis, and more particularly the optimism provided by the new Government at the Centre, Mr. Wani observed: “The aspirations of Indian consumers are increasing day by day, resulting in rising demand for quality textiles and also increase in demand for textiles, helped by a hike in GDP growth rates. Current statistics reveal that India has around 300 million people in the middle-class bracket, which is expected to go up to 600 million by 2030, which will drive the growth of textile business in our country. In the context of the international market too, Stovec expects its exports to increase alongside, with the impending global economic recovery.”
“The year 2014 has been good for the textile segment at Stovec”, Mr. Wani disclosed. “We have witnessed an increase in our business. The new Government has taken a great leap forward by declaring the intention of moving ahead with reforms, coupled with a special focus on the ‘Make in India’ program. Overall business sentiments have revived, and with the kind of traction that has been created in the last few months, we have seen a robust interest in our products from Indian companies. With this, we expect 2015 also to be a good year”.
Alongside, the Government is also talking about giving a boost to skill development programs in India and reducing the days and paperwork needed for a start-up company to get government approvals, which are considered the right moves and will definitely help attract new investments in the country particularly in the textile sector.
On the importance of India for SPG Prints, he explained: “India is an extremely important market for SPG Prints (and has been so since 1972 when SPG started in India), considering the excellent demographics and also the fact that the number of middle-class people is expected to touch 600 million by 2030, which will drive the demand for textiles in the country. SPG Prints would definitely like to be a part of this Indian growth story and is committed towards business in India. It counts, India as one of its major markets”.
Emerging trends
Fashion is changing fast towards printed garments from yarn dyed. This, in turn, helps Stovec’s growth in the textile printing business. This change also helps to save the environment with less water and energy consumption, alongside less cost of production.
Rotary printing no doubt continues to remain the main printing process of textiles. But recent years have witnessed digital printing gaining ground. Although digital printing is still comparably small with less than two per cent market share. The world output of digitally printed textiles is growing at an annual rate of 25 per cent.
Products & technologies
Stovec offers end-to-end solution for rotary printing process, from screens, screen making chemicals, engraving equipment to rotary printing machine.
At India ITME 2012, Stovec had launched the Stormac RD VI Gold rotary printing machine, which has been quite successful in the Indian market. And during ITMACH INDIA 2014, Stovec launched Stormac RD8 ID new rotary printing machine with individual drive and sophisticated electronics. With the increase in capacity, the Indian plant will be the production base for RD VI Gold, RD8 MD and RD8 ID models and would eventually start catering to the global market. For the Indian market, the RD VI Gold will continue to be the cost-effective model with proven mechanical drive, added Mr. Wani.
Stovec, part of the SPG Prints Group, also sells its digital laser engraving machines, ecoLEN, BestLEN and laser exposing machine SmartLEX made in SPG Prints, Austria. With growing demand for quality printing in textiles, that for digital engraving machines is also on the rise.
After-sales service
Stovec has established a strong after-sales services network across India. The company has service engineers located in major textile hubs in Ahmedabad, Surat, Mumbai, Tirupur and New Delhi. It also offers Value Added Services (VAS) to its customers for maintaining the rotary printing machines in good condition. “The objective is not to make money from the VAS, but to create a high confidence level among our customers,” Mr. Wani concluded.