Indian Technical Textiles Market Will Soar To $40-50 Billion
The global technical textiles market is around US $260 billion and it is expected to increase to $325 billion by 2025-26, while the Indian technical textiles industry which is around $22 billion will soar to $40-50 billion over the next five years.
This was informed by Textiles Secretary Rachana Shah while addressing the 6th edition of National Conclave on Standards & Regulations for Technical Textiles organised by FICCI.
She further added that export of technical textiles presently stands at $2.5 billion, and government’s objective is to enhance it to $10 billion during this period.
“The government is working in technical textiles sector with a multi-pronged approach with focus on R&D activities in technical textile sector including in fibres and in development of its various applications,” Shah added.
“The focus is also on developing a skilling eco-system and skilled manpower for the sector,” she informed.
The delegates were also informed that the Textiles Ministry is working closely with various inter ministries and departments within the government and state governments to increase the demand and penetration of technical textiles.
“One of the critical elements of the approach is focusing on standards and regulations for technical textiles as these are highly specialised products with high performance requirements,” she stated.
