In the recently held TECHNOTEX 2018, the Textile Commissioner, Government of India, Dr. Kavita Gupta said that the Government is concentrating on a number of deliverables so that the country is able to make most from the available opportunities for technical textiles globally. In the event, she said that India has to spend money in an appropriate manner so that outcomes are achieved.
Can India Lead in Technical Textiles Industry? Dr. Kavita Gupta has been giving a clarion call to India’s textile industry on the bright prospects and the huge market potential that the technical textile has in the country. She says that since we are starting at a low base, the investment which will be made now in this sector will have a first mover advantage. According to her, with 12 segments of technical textiles and a current market size of Rs 1,16,000 crore, the sector is projected to grow 20% yearly. Modi Government has steered clear that India must continue its dominance in the textile sector and remain a major hub. To achieve the goal, the Government has brought in several policy level changes. The Prime Minister himself is taking a personal interest in the growth of technical textiles in the country and policy meetings at the highest levels are paving the way to promote this sector.
Moreover, as the technical textiles industry is projected to grow at 20% year-on-year and the segment’s potential is largely untapped in the country, India’s textile companies can further up their stakes in this sector and forge collaborations and joint ventures to bring in high-end technology and know how. As of now, India’s share in the global market is just 3% in technical textile. Further, Dr. Gupta pointed out that whereas technical textiles contribute to only 10% of the total textiles in India, their share in countries like Germany was more than 50% and such countries, therefore, dominate the global market.
In this context. TECHNOTEX 2018 which was recently held as an International Exhibition and Conference on Technical Textiles to promote technical textile assumes an even greater importance. The event was jointly organized by Government of India and FICCI. In the inaugural address, Dr. Kavita Gupta stated that the sector needs a lot of support from the industry . She also informed that interfaces with different Ministries and departments as well as with State Governments are being worked out to promote their usages in a big way and the industry must seize this opportunity fully.