According to a recent Assocham study, India’s technical textiles industry is set to boom in the next five years. The sector is said to be ready to double from its estimated current value of US $10 billion today.
According to the report, the main reason for the projected growth is the expected increase in consumption of technical textiles by India’s growing middle classes.
According to the Business Standard, Assocham’s President Swati Piramal said in a statement that: “The domestic technical textiles market is estimated to grow at an average annual rate of over 10-12 per cent in the next four to five years because of high demand,” The study says that the sector’s major driving applications are medical textiles, automotive textiles, geo textiles and hygiene products.
Assocham has recommended that the Indian textile industry should have a multi-prong strategy to ensure development of agro shade net fabrics, chemical protective fabrics and multi-layer sportswear fabrics.