01-01-1970 12:00 AM | Source: Accord Fintech
India`s technical textile market likely to double in next five years: Rachna Shah
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Ministry of Textiles Secretary Rachna Shah has said that India’s technical textile market is expected to double in the next five years, adding that the technical textile segment in India has in recent years shown robust growth, both internationally and in the domestic market. She said the market size is around $22 billion within India and the goal of the government is to take it to $40-50 billion over the next 5 years.

Shah also noted that the global technical textiles market is around $260 billion and is expected to increase to $325 billion by 2025-26. On India's export of such textiles, Shah said the export of technical textile presently is $2.5 billion, and the government's objective is to enhance it to $10 billion. 

Shah further said that 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.

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. She added that 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.