The segment’s potential is largely untapped: Kavita Gupta
The technical textiles industry is projected to grow at 20 per cent year-on-year and the segment’s potential is largely untapped, a senior government official said here.
“We see huge growth potential for the technical textile industry in India. With 12 segments of technical textiles and a market size of ?1,16,000 crore, it is projected to grow 20 per cent per annum,” Textile Commissioner Kavita Gupta said here.
India accounts for just 3 per cent of global technical textile production. As compared to countries like Germany where technical textile contributes 50-60 per cent, in India, the contribution is only 12 per cent, she said. Inaugurating TECHNOTEX 2018 — an International Exhibition and Conference on Technical Textiles jointly organised by FICCI — Gupta said technical textiles are being promoted at the highest level by the government in order to realise the full potential of the critical segment.
She said the Ministry needs the support of industry to promote usage of technical textiles.
Shishir Jaipuria, Chairman, FICCI Textile Committee and Chairman and Managing Director of Ginni Filaments, in his welcome address said, “The Government has special focus on technical textiles and has announced various flagship schemes and future looks promising. We want to pass on the benefits to the consumers.”
Nearly 168 exhibitors from 39 countries, including China, Taiwan, South Korea, Vietnam and USA, are participating in Technotex. A total of 225 international buyers will be taking part in the reverse buyer-seller meet and 7,000 visitors are expected at the two-day event.