Thursday, 29 October 2015

20 Percent Annual Growth Expected In Technical Textile Industry.

Technical textile Industry

Technical Textiles, as you may already know are nothing but the textile products manufactured for purposes other than aesthetic. These include the textiles required for application in automotive, medical textiles, agro-textiles, as well as those required for making protective clothing, such as spacesuits, bulletproof vests, or that worn by the fire-fighters and welders etc.  Technical textiles also include materials and products used for their technical performance and functional properties such as tyre cords, airbags, industrial textiles, furniture lining, tents, parachutes etc.

According to a recent government announcement the technical textile sector in India, is expected to witness an annual growth at the rate of 20 percent. Given the fact that the textile sector, generates the highest employment in the country, next only to the agricultural sector; the high-priority accorded to it by the government is only justified. This announcement simply puts forth the fact that the government is looking forward to reinforcing the standing of the textile industry in the economy, thereby accentuating the potential for increasing the production as well as the exports related to the sector!

Under the current financial year the market size of Technical Textiles is approximately Rs.1,09,659crores, which is expected to grow by 48,881 crores to touch a total of a whopping Rs.1,58,540 crores, by the year 2016-2017.

Another announcement coming from the Textile Commissioner Kiran Soni, indicated the creation of 8 centers of excellence in order to offer high-end facilities such as world-class testing, prototype development, incubation as well as training so as to become a one-stop destination for all needs of the technical textiles industry. In addition to this, a few schemes pertaining to the strengthening of this sub-industry have been announced which include, the restructured Technology Up gradation Funds Scheme, along with schemes for strengthening the database as well as the standards for the technical textiles, and that for promoting the usage of agro-textiles in the north-eastern region of the nation.

There are close to eight-hundred and fifty technical textile units which have been registered under the Technology Up gradation Funds Scheme with a large majority of them being located in Gujarat and Maharashtra.

Moreover, the government has announced the setting up of integrated textiles parks, and has promised an assistance of upto Rs.40 crore is for creating the requisite infrastructure.
That being done, the need of the hour is to encourage and promote the awareness with respect to the superior functionality of technical textiles in an attempt to promote higher consumption of these. Especially, when it is known that a large number of industries are in constant need of the technical textiles, including automotive, healthcare, infrastructure, oil and petroleum, among others.

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