To promote the technical textile sector, India plans to increase fund outlay for various schemes to over Rs 700 crores during the 12th Five-Year Plan.The market size of technical textiles in India is estimated to have grown to Rs 91,236 crores in 2013-14 from about Rs 42,000 crores in 2007-08, with an annual growth rate of 11 per cent. It’s estimated that with proper policy support, promotional efforts and standardisation and regulation, the sector has the potential to reach Rs 1.58 lakh crores by 2016-17.
Employment in the technical textiles industry is estimated to grow at 13 per cent annually to 26 lakh by 2016-17. The export target set for the technical textile sector is $50 billion this fiscal. The sector is exploring new markets like South America and Japan.
To develop technical textiles in the northeastern states, the government has sanctioned government support of Rs 55 crores for geo-textiles and another Rs 500 crores is under process.
The Indian technical sector encompasses all performance-based textiles involving fibers, yarns, wovens, nonwovens etc. that cater to non-commodity textile applications. The Indian Technical Textile Association represents the entire technical textile value chain from raw materials to finished goods producers, machinery manufacturers, consultants, centers of excellence and R&D institutes.
