In order to cover up the losses incurred due to appreciation of rupee and observing growing prospects in international scenario, companies are diverting their attention towards the latest roar in the textile world that is technical textile.
Recognising huge opportunities in this arena, domestic companies are planning to exploit this booming sector to the fullest and garner huge revenues.
It is estimated that the market size of technical-textiles in the country will reach about Rs29,579 crore in 2007-08, where as it was just Rs19,130 crore in 2003-04. During these four years automotive textiles, medical and geo-textiles along with few other categories have shown momentous development.
Alok Industries, which offers world class integrated textile solutions, has jumped onto the technical textile bandwagon. Speaking to Fibre2fashion, Mr Sunil Khandelwal, Chief Financial Officer said, "Technical Textile is focused area of Alok Industry. We are expanding the product range by introducing new fabrics such as fire retardant, anti bacterial, water repellent, parachute fabric and many more."
Mr Khandelwal informed that over the years their company has integrated from growing cotton to retailing.
"The concept of technical textile is quite new in India and thus has a large scope for further expansion and our company is working hard for its progress and has decided to import and install advanced equipments for this," said the CFO.
Company anticipates that by 2010, around 5 to 10 percent of its profits will be generated from technical textiles. Currently, this sector contributes only one percent to the company's revenue.
Recognising huge opportunities in this arena, domestic companies are planning to exploit this booming sector to the fullest and garner huge revenues.
It is estimated that the market size of technical-textiles in the country will reach about Rs29,579 crore in 2007-08, where as it was just Rs19,130 crore in 2003-04. During these four years automotive textiles, medical and geo-textiles along with few other categories have shown momentous development.
Alok Industries, which offers world class integrated textile solutions, has jumped onto the technical textile bandwagon. Speaking to Fibre2fashion, Mr Sunil Khandelwal, Chief Financial Officer said, "Technical Textile is focused area of Alok Industry. We are expanding the product range by introducing new fabrics such as fire retardant, anti bacterial, water repellent, parachute fabric and many more."
Mr Khandelwal informed that over the years their company has integrated from growing cotton to retailing.
"The concept of technical textile is quite new in India and thus has a large scope for further expansion and our company is working hard for its progress and has decided to import and install advanced equipments for this," said the CFO.
Company anticipates that by 2010, around 5 to 10 percent of its profits will be generated from technical textiles. Currently, this sector contributes only one percent to the company's revenue.
