Indian technical textiles exports have already reached $22 billion and the Indian Textiles secretary hopes that it will reach $50 billion in the next five years.
Indians are banking on their edge in technical textiles in the region to push ahead with their ambition of replacing China as the largest technical textile player. The sanctions on China are gradually reducing its textile market. Its apparel market has mostly been taken over by Bangladesh and Vietnam and to some extent by the Indians. But in technical textiles, the lion’s share went to India.
The textile secretary revealed that global technical textiles currently stand at $260 billion and is projected to increase to $325 billion in the next five years. He said that Indians entered technical textiles late but have made satisfactory progress. The Indian government is facilitating the sector and hopes that the exports would touch $40-50 billion in five years.
The secretary pointed out that the Indian government is making sure that the standards of Indian technical textiles are in line with the global best. She said a lot of research and development is going on in this regard both at government institutes as well as in the private sector. She said since technical textiles are mostly used in the industrial sector it is essential to make products exactly according to the specifications and standards of foreign buyers.
India vying for dollar 50 billion in technical textile exports
