India’s tech textile industry shows a projection of 20% growth year on year basis since it’s an untapped sector of textile industry in India.
For the global tech textile production, India only accounts for 3%. Tech textiles are being promoted by the government at the highest level to realize the full potential of this critical segment.
Ms Kavita Gupta, textile commission said, “We see huge growth potential for the technical textile industry in India. With 12 segments of technical textiles and a market size of Rs 1,16,000 crore it is projected to grow 20 per cent per annum.”
Mr Shishir Jaipuria, chairman, FICCI Textile Committee and chairman and managing director of Ginni Filaments commented, “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.”
At Technotex 2018 in India, 7000 visitors are expected with 225 international buyers and approximately 168 exhibitors from 39 countries including USA, China, South Korea, Taiwan and Vietnam.
