Massive scope for SMEs in technical textile industry
The Indian technical textile industry
will be worth $12-15 billion by 2012 and offers huge scope for small
and medium enterprises (SMEs) in the country, however, the sector calls
for considerable government backing to reach its full potential, opined
industry experts.
Across the world the technical textile industry is scattered but that’s not the case with India. Indian smes have wider scope for development, however the sector looks forward to more government support, informed Prashant Agarwal, at a conference on Technical Textile Summit in New Delhi recently.
He added that SMEs in India need to focus on research and new product development to do well in the technical textile area.
The technical textile industry is an area wherein research and product development is of paramount importance. For technical textile to succeed it should focus on these subjects. So it is not easy for anybody and everybody to climb the textile industry bandwagon, he further added.
Agarwal further elaborated “In technical textile industry the government needs to provide certain benefits. Moreover, the government should help create a conducive environment for research so that it becomes easier for the sector to launch innovative products. Further, the government should launch special incentives to ensure that the people invest in technical textile industry.
When it comes to comparing India’s growth with China in the technical textile category, Indian market is governed by two factors – export competitiveness and the local consumption. Today, textile industry is USD 42 billion in the domestic market and USD 22 billion in the export market.
Enhancing the consumption especially in the domestic market is imperative to drive the consumption in a major way. It is not to say that India could stand shoulder to shoulder with China, however, it could try and come close to the figure of China in the near future, Agarwal added.
The total market for the technical textile is US$120 bn tones and is projected to cross 26 mn tones by 2012 with CARG of 4-5 percent depending on the application.
In addition the world market share is said to grow. India at present shares a growth of 4-6 percent in the global technical textile while US shares around 25 percent, Europe shares 22 percent and China’s share is around 13 percent.
As per the government data, though India is the second largest textile economy in the world, its contribution is merely 6.85 percent. The data also highlights the fact that the domestic market size of technical textiles in the country is projected to grow at the rate of 11 percent per annum and will cross Rs.66,414 crore by 2012, which stands around Rs.37,115 crore at the moment.
Agarwal pointed out in the same context that urban sector is already getting support from the government; however the rural sector is also needs a solid backing. The agri sector for technical textiles, for instance, the government needs support the technical textile products and offer some subsidies which could be some advantage.
In India, the technical textile industry has potential to grow in areas like agrotech, buildtech, geotech, oekotech, packtech, hometech, medtech, mobiltech, protech, and Indutech.
Across the world the technical textile industry is scattered but that’s not the case with India. Indian smes have wider scope for development, however the sector looks forward to more government support, informed Prashant Agarwal, at a conference on Technical Textile Summit in New Delhi recently.
He added that SMEs in India need to focus on research and new product development to do well in the technical textile area.
The technical textile industry is an area wherein research and product development is of paramount importance. For technical textile to succeed it should focus on these subjects. So it is not easy for anybody and everybody to climb the textile industry bandwagon, he further added.
Agarwal further elaborated “In technical textile industry the government needs to provide certain benefits. Moreover, the government should help create a conducive environment for research so that it becomes easier for the sector to launch innovative products. Further, the government should launch special incentives to ensure that the people invest in technical textile industry.
When it comes to comparing India’s growth with China in the technical textile category, Indian market is governed by two factors – export competitiveness and the local consumption. Today, textile industry is USD 42 billion in the domestic market and USD 22 billion in the export market.
Enhancing the consumption especially in the domestic market is imperative to drive the consumption in a major way. It is not to say that India could stand shoulder to shoulder with China, however, it could try and come close to the figure of China in the near future, Agarwal added.
The total market for the technical textile is US$120 bn tones and is projected to cross 26 mn tones by 2012 with CARG of 4-5 percent depending on the application.
In addition the world market share is said to grow. India at present shares a growth of 4-6 percent in the global technical textile while US shares around 25 percent, Europe shares 22 percent and China’s share is around 13 percent.
As per the government data, though India is the second largest textile economy in the world, its contribution is merely 6.85 percent. The data also highlights the fact that the domestic market size of technical textiles in the country is projected to grow at the rate of 11 percent per annum and will cross Rs.66,414 crore by 2012, which stands around Rs.37,115 crore at the moment.
Agarwal pointed out in the same context that urban sector is already getting support from the government; however the rural sector is also needs a solid backing. The agri sector for technical textiles, for instance, the government needs support the technical textile products and offer some subsidies which could be some advantage.
In India, the technical textile industry has potential to grow in areas like agrotech, buildtech, geotech, oekotech, packtech, hometech, medtech, mobiltech, protech, and Indutech.
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