The Indian technical textile industry is expected to grow to a value of Rs 1,58,000 crore by 2017, a senior government official said.
"The technical textiles industry is forecast to grow at Rs 1,58,000 crore by 2016-17, with a projected growth of 20%. The industry has grown to Rs 63,000 crore in 2011-12 from Rs 41,000 crore in 2010-11, which is 11% growth per annum," Textile Commissioner, Ministry of Textiles, AB Joshi said, after inaugurating the third edition of 'Techtextil India 2011'.
Joshi emphasised on the growing sectors within the technical textiles industry in India namely, Medical (Medtech), Geo-Textiles (Geotech), Protective Textiles (Protech) & Agricultural Textiles (Agrotech).
In its 12th Five Year plan, the government has allocated funds to the development of Centre's of Excellence (CoE) for the various technical textiles sectors.
The upcoming CoE's, that have been established very recently, are, for non-wovens & medical in Ichalkaranji, Kolhapur, Maharashtra; for the sports sector in Mumbai; for composites in Ahmedabad, Gujarat and for the Industrial application of textiles in Coimbatore, Tamil Nadu, Joshi said.
Joshi released the official catalogue of the 3rd Techtextil India at the conference.
The three-day exhibition and its concurrent two-day symposium will provide comprehensive market intelligence, which will help drive the future of India's technical textile market.
Apart from four international country, pavilions from Germany, France, Belgium and China, nearly 132 exhibitors across 14 countries - Belgium, China, France, Germany, Holland, India, Italy, Japan, Korea, Sweden, Turkey, USA, Austria and Indonesia are participating in the exhibition.