Jan 28, 2019
Ministry to host technical textiles conclave in Mumbai
Jan 28, 2019
The ministry of textiles will host a national conclave on technical textiles in Mumbai on January 29. The conclave to be presided over by the Union minister of textiles Smriti Irani, will also be a curtain raiser for TechnoTex 2019.
The release of HSN codes by the government of India for technical textiles will be one of the major highlights of the conclave.
Several panel discussions will be held on subjects like administrative consolidation of technical textiles items, manufacturing possibilities and import substitution, benefits of standardisation and global best practices, technical textiles codes for new India, investment opportunity in technical textiles sector and research and development in technical textiles by eminent panelists drawn from various Central government departments, NITI Aayog, IITs and textile industry.
The technical textile sector is the sunshine sector for the textile industry and it is one of the fastest growing segments of the Indian economy. This sector is expected to see a double digit growth in coming years and is projected to reach a market size of Rs 2 lakh crore by 2020-21.
As per baseline survey of technical textile industry in India, there are around 2100 units manufacturing technical textiles in the country and most of them are concentrated in Gujarat followed by Maharashtra and Tamil Nadu. India has 4-5 percent share in the global technical textiles market size across twelve segments.
Technical textiles constitute 12-15 per cent of the total textile value chain in India, whereas in some of the European countries technical textiles constitute 50 percent of the total textiles value chain.
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