Facilitation in exchanges on technical textile sector between India and US

In yet another welcome move, India and the United States, have agreed upon in facilitation in exchanges with respect to technical textiles between the centers of excellence of the universities of the two nations. This came as a joint announcement issued right after the India-US Strategic and Commercial Dialogue.

Textile Industry Welcomes Extension Of Export Benefit

The textile industry of India has been facing a major blow, one of the worst in its history, pertaining to the slowdown that hit the global textile and clothing markets in April 2014. Due the termination of region FTA by other competing nations, exports from India have encountered an all-time low owing to its tariff barriers, expensive cotton, high fibre price and the unprecedented delay in the pay-out of the TUF subsidies. Given the scenario, the industry had long been demanding the extension of additional incentives through the Merchandise Export from India Scheme (MEIS). The demand also pressed for a grant of 3% interest with respect to the export of all textile merchandise, at least till the time that the exports reach their projected potential growth.

20 Percent Annual Growth Expected In 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.