Policies of the State Government should be conducive for the sustenance of industries, former chairman of Murugappa Group A. Vellayan said here on Friday.
He inaugurated SIMA TEXPIN ‘Breakthrough to Excellence’, the 12th CEO Conference organised by Southern India Mills’ Association. Mr. Vellayan said the State lacked proper policies for sustenance of industries such as textiles, sugar, and fertilizer. The need of the hour was for exclusive policies for various industrial sectors.
He stressed that policy advocacy of the governments was essential for the growth of industrial sectors.
The Return on Capital of 1 to 20 cotton industries in the State stood between 16 % and 20 %. Some of the reasons for this included lack of modernisation and professional approach.
Yet, several mills were also successful because of the new generation leadership.
Jairam Varadaraj, managing director of ELGI Equipments, called upon the leaders of textiles industries to look for global opportunities and to increase the value of employees.
Industries need to keep improving to survive, he said.
Mr. Vellayan and Mr. Varadaraj gave away Technofacts Performance Awards 2017-18 to top ten companies.
The one-day conference had sessions on spectrum of opportunities in technologies related to textile industries, and Next Gen Leadership.
