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Double-Digit Growth For Technical Textiles

Double-Digit Growth For Technical Textiles

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Brainstorming at National Conclave

 

TechnoTex2019.

 

The technical textile sector, one of the fastest growing segments of the Indian Economy, is set for a double-digit growth in the coming years and a market size of Rs.2 lakh crore by 2020-21.

Technical textiles are textile material and products manufactured primarily for technical performance and functional properties rather than aesthetic and decorative characteristics.

They find application not only in clothing but also in areas like agriculture, medical, infrastructure, automotive, aerospace, sports, defence and packaging.

As per baseline survey of technical textile industry in India, there are around 2,100 units manufacturing technical textiles in the country, most of them concentrated in Gujarat followed by Maharashtra and Tamil Nadu.

India has 4-5% share in the global technical textiles market size across 12 segments.

Technical textiles constitute 12-15% of the total textile value chain in India, whereas in some of the European countries technical textiles constitute 50% of the total textiles value chain.

With such prospects, the Textiles Ministry will hold a National Conclave on Technical Textiles on 29 January 2019.

The conclave in Mumbai, which will also be a curtain raiser for TechnoTex 2019, will be presided over by the Minister of Textiles, Smriti Zubin Irani.

The release of HSN codes by Government of India for technical textiles will be one of the major highlights of the conclave.

Several panel discussions will be held on subjects like administrative consolidation of technical textiles items, manufacturing possibilities and import substitution, benefits of standardization and global best practices, technical textiles codes for New India, investment opportunity in technical textiles sector and research & development in technical textiles by eminent panellists drawn from various Central Government departments, NITI Aayog, IITs and textile industry. fiinews.com

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