“Indian Technical Textiles market is set to grow by more than 4 times to $37bn in the next 12 years i.e. by 2020”, estimates FICCI – Technopak Report on ‘Indian Technical Textiles Industry: Stimulating Demand and Promoting Development’.
The report pointed out that the growth of Indian market for technical textiles, currently at $ 8.3 billion and growing at a healthy pace of 11.25%, is hindered by lack of product standards; R&D facilities and innovative technologies; inadequate regulatory measures in various application areas for ensuring use of technical textiles at par with developed countries; lack of economies of scale; inadequate testing facilities and skilled work force.
These deficiencies that are holding down the growth of different sectors of technical textiles have been spotlighted by a FICCI-Technopak Report prepared for the FICCI Conference of Indian Technical Textiles Industry to be held in the capital on April 22, 2008.
The conference will be inaugurated by Mr Shankersinh Vaghela, Union Minister of Textiles and addressed, amongst others, by Mr V Govindarajan, Member-Secretary, National Manufacturing Competitiveness Council (NMCC); Mr A K Singh, Secretary, Ministry of Textiles and Dr C S Gokhale, Chairman, FICCI Taskforce on Technical Textiles.
Leading industry professionals and senior government officials dealing with technical textiles will deliberate on issues confronting the industry at the day-long conference.
Technical Textiles are textile materials and products manufactured primarily for their technical performance and functional properties rather than their aesthetic or decorative characteristics.
Although all the twelve identified sectors of Technical Textiles are very important and the combined growth of these sectors will bring about an overall growth of the technical textile industry of India, the four sectors namely – Buildtech, Geotech, Meditech and Protech are foreseen as the areas of utmost importance, by FICCI-Technopak Report.
Further, out of these 12 segments of Technical Textiles, Geotextiles and Protective Textiles would be the key driver of this market, as identified by the report.
The demand for Geotextiles and Protective Textiles is set to grow manifold in view of the growing infrastructure (especially roads and airports) and also because of the increasing usage of fire retardant textiles in various applications, the report observed.
Geotextiles are used to improve the geotechnical properties of roads, bridges, runways, slopes etc. The report estimated that the consumption of Geotextiles in the 11th Five Year Plan could be around Rs.10,000 crores due to increase demand from areas like highways, runways and rural roads.
And, protective textiles are basically flame-retardant fabrics used in hotels, multiplexes, malls, defence etc.
Technical Textiles have a huge potential in India. This potential has to be realised by Indian and foreign investors by making suitable investments in this high profit, high potential and high demand sector.
India has to take its due position in the Global Technical Textiles market by becoming a net exporter in the coming years. A lot needs to be done at the Government level, industry level and by financial and educational organisations to expedite the growth of this industry.
