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Business News/ Industry / Indian technical textiles market to soar to $50 billion in next 5 years
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Indian technical textiles market to soar to $50 billion in next 5 years

The textiles 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

The global technical textiles market stands at around $260 billion. Photo:pradeep gaur/mintPremium
The global technical textiles market stands at around $260 billion. Photo:pradeep gaur/mint

New Delhi: The Indian technical textiles sector is poised for a remarkable growth trajectory, with expectations to reach a staggering $50 billion within the next five years from the current $22 billion, said textiles secretary Rachna Shah on Tuesday.

Addressing an event organized jointly by FICCI, BIS, and the Ministry of Textiles, Shah highlighted the substantial progress witnessed by the technical textiles segment, both nationally and internationally.

“The global technical textiles market stands at around $260 billion and is projected to surge to $325 billion by 2025-26. In India, we are making tremendous strides with the current market size at $22 billion. The government is unwaveringly committed to elevating it to an impressive $40-50 billion in the coming five years," Shah asserted.

Shah shed light on the multifaceted approach employed by the government, which includes a strong focus on research and development activities in the technical textile sector, encompassing fibers and the development of various applications. Additionally, the government is dedicated to establishing a well-structured skilling ecosystem to nurture a skilled workforce essential for the sector’s expansion.

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 in tracking 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 growth of the sector, she noted.

The Ministry of Textiles has notified two quality control orders (QCOs) for 31 technical textiles, including geo textiles and protective textiles, effective 7 October. Furthermore, draft QCOs for 28 items, including Agro Textiles and Medical Textiles, have been notified on the WTO’s website to solicit feedback.

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Published: 25 Jul 2023, 05:28 PM IST
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