Technical Textile sector is one of the most innovative branch of the industry in the world, ranking as one the five high tech sectors with the greatest potential for development. In India also technical textiles is one of the fastest growing segment of the Indian economy registering compounded annual rate of growth of 11% during 11th five year plan and the working group.
T. Rajkumar, chairman of Southern India Millsâ€™ Association on Friday inaugurating a conference organised by PSG College of Technology Centre of Excellence (Indutech), said that entrepreneurs interested in investing in technical textiles should look at opportunities related to cotton woven and knitted fabric, as more than 70 per cent of technical textiles needs man-made fibre and filaments.
With levy of excise duty, import duty, special additional duty, etc, the cost of the fibres and filaments in India is 20 to 30 percent higher to competing countries such as China and Indonesia.
The country is producing nearly 390 lakh bales of cotton a year and textile industry in Tamil Nadu is predominantly cotton-based.
The State has units across the textile value chain from spinning to garmenting. Considering the huge investment needed for non-woven and lack of technical know-how, entrepreneurs should focus on cotton-based technical textiles.
Technical textiles requires special knowledge, research and development, technical know-how, technology, marketing and branding initiatives to tap market opportunities both in domestic and international market.
Since the industries will need a longer duration to develop local brands, it becomes very important that they tie-up with international brands to have a higher market share. The association and Indian Technical Textiles Association will extend all support to companies in their effort to develop cotton-based technical textile products.
Though the textile industry in the country grew 10 percent ever year during the tenth five year plan period, growth declined to less than seven per cent a year during 2007-2012.
The units faced volatility in cotton prices, withdrawal of export incentives, and problems in getting benefits under the Technology Upgradation Fund scheme.
Mr. Rajkumar urged the Union Government to study the vision document that the industry will submit soon, remove the bottle necks, and announce proactive policies to revive the textile industry.
However, the ability of technical textiles to combine with each other and with others to create a new functional products offer unlimited opportunity to growth.
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