India’s technical textile market likely to double in 5 yrs: Secretary

New Delhi [India], July 25 (ANI): The technical textile segment in India has in recent years shown robust growth, both internationally and in the domestic market, and the market is likely to double in the next five years, said Rachna Shah, Secretary, Ministry of Textiles.
“Within India, the market size is around USD 22 billion, and the goal of the government is to take it to USD 40-50 billion over the next 5 years,” she said while addressing the 6th edition of National Conclave on Standards and Regulations for Technical Textiles’, here on Tuesday.
According to the secretary, the global technical textiles market is around USD 260 billion and is expected to increase to USD 325 billion by 2025-26.
Technical textiles are defined as textile materials and products used primarily for their technical performance in various high-end industries.
On India’s export of such textiles, Shah said the export of technical textile presently is USD 2.5 billion, and the government’s objective is to enhance it to USD 10 billion.
“The government is working in the technical textiles sector with a multi-pronged approach with a focus on R&D activities in the technical textile sector including in fibre and in the development of its various applications. The focus is also on developing a skilling eco-system and skilled manpower for the sector,” she was quoted in a press release.
The Secretary also stated that the ministry is working closely with various inter-ministries and departments within the government and state governments to increase the demand and penetration of technical textiles.
“One of the critical elements of the approach is focusing on standards and regulations for technical textiles as these are highly specialized products with high-performance requirements,” she added.
Shah further informed that in addition to developing standards, it is also important to map the technical textiles with HSN codes as it will help track the trade of these products.
The HSN codes are in turn being mapped to various regulations and standards. A collaborative approach between the certification agencies, industry and various government ministries will be critical in ensuring the success of our initiatives and the growth of the sector, she said in her remarks. (ANI)