A national conclave on technical textiles is to be held on January 29 in Mumbai by the ministry of textiles and will be presided over by the Union minister of textiles Smriti Irani. This conclave will also serve as a curtain raiser for TechnoTex 2019.
This conclave will have in focus the release of HSN codes by the government of India for technical textiles. It will also see panel discussions on subjects like administrative consolidation of technical textiles items, manufacturing possibilities and import substitution, benefits of standardization and global best practices, technical textiles codes of India, investment opportunity in technical textiles codes for new India. More subjects that will follow the event will be related to investment opportunities in technical textiles sector and research and development technical textiles by renowned panelists selected from various Central government departments.
The textile industry has got a reason to shine in form of the technical textile sector considering the reason that the sector is one of the fastest growing in the Indian economy. A double digits growth in the coming years is speculated for this segment and the market size for the same is seem to reach a beaming Rs2 lakh crore by 2020-21.
The baseline survey of technical textile industry in India suggests that there are around 2100 units that manufacture technical textiles in the country. Most of such industries are located in Gujarat, Maharashtra and Tamil Nadu. Across twelve segments, India has 4-5 percent share in the global technical textiles market size.
Of the total textile value chain in India, the technical textiles comprise of nearly 12-15 percent. The story is just the reverse in the European countries, where 50 percent of the total textiles value chain comprises of technical textiles.
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