The annual growth rate of the technical textiles sector in the country should be in the 15%-20% range in the next five years, from the current 8%, said Union Minister of Textiles, Commerce and Industry, Consumer Affairs and Food and Public Distribution Piyush Goyal.
It is time to target a five times’ increase in export of technical textiles in three years, he told representatives of the Indian Technical Textile Association (ITTA) in New Delhi on Friday.
The world market for technical textiles is $250 billion and India’s share is $19 billion.
‘Net exporter’
The biggest players are the U.S., West European countries, China and Japan.
In January 2019, the government issued 207 HSN Codes for technical textiles and in less than two years, India had become a net exporter of technical textiles.
It also unveiled the National Technical Textiles Mission in February last year. In FY21, India’s major share of technical textile exports was in PPEs, N-95 and surgical masks, and fabric for PPEs and masks. As many as 92 technical textile items have been made mandatory for use by government organisations covering agriculture, horticulture, highways, railways, water resources, and medical applications.India has a major presence in packaging textiles, geotechnical textiles, and agricultural textiles, added the Minister.