New Delhi: The Commerce Ministry on Friday set an ambitious target of a five-fold increase in export of technical textiles from two billion dollars to 10 billion dollars over the next three years with plans to support PLIs for the textile sector in states offering affordable infrastructure for textile manufacturing like cheap land and power.
“Time has come to target five times increase in export in three years,” said Piyush Goyal, while speaking to representatives of the Indian Technical Textile Association (ITTA).
The technical textiles sector in India has been growing at an accelerated pace in the past five years with a current rate of eight per cent per annum, supported by the National Technical Textiles Mission launched in February, 2020. In January 2019, for the first time in India, 207 HSN codes were issued for technical textiles and in less than two years, India has become a net exporter in technical textiles. In 2020-21, India’s major share of exports has been in PPEs, N-95 and surgical masks, fabric for PPEs and masks.
The Government is now pushing for growth of technical textiles in the 15-20 per cent range during the next five years to achieve a bigger chunk of the global market, which is worth USD 250 billion. With a current share of USD 19 billion, India is aspiring for USD 40 billion size, which is eight per cent of the international market.
Outlining the strategy to achieve the target, Goyal called for aligning with the best standards in textile manufacturing, while ensuring a parity between the quality of textile meant for international and that for the domestic consumers. He also suggested public-private participation in use of Government funds in research and development in technical textiles, and orienting the growth towards towards high technology and indigenously innovated products.
UNI
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