Textile machinery major Lakshmi Machine Works (LMW) supplied a record 2.5 million spindles during January-December period last year with plans to manufacture 3.5 million spindles during January-December 2007 period.
LMW's achievement is in line with textile industry's growth target of $110 billion by 2012 from the present $50 Billion, an LMW spokesperson said on Tuesday.
It was able to achieve production of 2.5 million spindles within a year due to installation of additional manufacturing facilities from world's best sources.
The company is looking at a minimum growth of 20-25 percent in its yearly production of textile machinery, a spokesperson said.
LMW is the world's largest producer of ring frames and has 23 million spindles in operation worldwide.
The company is a leading technology provider of total integrated spinning machinery.
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