A senior government official quoted that, the technical textiles industry is expected to witness 20% growth every year and this segment has enormous potential which is still untapped in the country.
Kavita Gupta, Textile Commissioner 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 percent per annum."
As compared with other European countries India accounts only 3% production of global technical textile. Countries like Germany contribute 50-60% of global technical textile. In India, this percentage is only 12, she said.
Gupta after inauguration of TECHNOTEX 2018 - an International Exhibition and Conference on Technical Textiles jointly organized by FICCI, said that the segment of technical textiles are being supported and promoted fiercely by the Indian Government to tap the fullest potential of this sector.
She also pointed out the need of industry’s support to popularize the usage of technical textiles.
Shishir Jaipuria, chairman, FICCI Textile Committee and chairman, MD of Ginni Filaments in his welcome speech said, "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."