Union Minister Santosh Kumar Gangwar launches TECHNOTEX 2015 in Mumbai; Technical Textiles to grow at 20% per annum for the next two years.

Union Minister for Textiles Santosh Kumar Gangwar today launched the TECHNOTEX  2015: International Exhibition and Conference at a curtain raiser ceremony in Mumbai.  TECHNOTEX  2015 will be held from April 9-11 next year at the Bombay Exhibition Centre, Goregaon, Mumbai.  Technical textiles are textile materials and products used for their technical performance and functional properties.  They include  tyre cords, fabrics, airbags, industrial textiles, furniture lining, tents, fire services equipments, bullet proof jackets, parachutes etc.

Speaking on the occasion Mr. Gangwar said there is a huge potential for the technical textile sector to grow at 20% per annum during the next two years.  He said the government has accorded high priority to the development of the textile sector, as it generates highest employment after agriculture. The Minister added that the Government has recognized the importance of technical textiles in the national economy as well as the potential for increasing production and exports in the sector.

The Government has launched four schemes for promotion and growth of technical textiles.  Textile Commissioner, Government of India Ms. Kiran Soni said eight Centres of Excellence have been created for providing world class testing facilities, training, incubation facilities and prototype development to act as one stop shop to cater to the needs of the technical textiles industry. The three other projects are schemes for strengthening database and standards for technical textiles, scheme for usage of agri-textiles in the North Eastern region and the restructured Technology Upgradation Funds scheme.  In addition, the government has approved setting up of integrated textiles parks under which it provides assistance up to Rs 40 crores for creation of infrastructure.

As per the 12^th Five Year Plan estimates by the Sub Group on Technical Textiles, the market size of technical textiles is expected to grow at CAGR of 20% and reach Rs 1,58,540 crores by 2016-17. The current market size is estimated to be Rs 1,09,659 crores.  There are around 850 units registered under Technology Upgradation Fund Scheme (TUFS) as Technical Textile units with the Office of Textile Commissioner, Mumbai.   Most of the units are concentrated in Gujarat followed by Maharashtra.

The fourth edition of TECHNOTEX, organised by FICCI in collaboration with the Ministry of Textiles, is expected to see a large participation of industry leaders, exporters and policy makers to identify new business opportunities and find innovative solution. The theme of the event is  ‘Indian Technical textiles Industry : Challenges and Opportunities’.  Besides showcasing the strength of Indian Technical Textile Industry, Technotex 2015, would also serve as major platform for one- to- one business meetings between foreign and Indian companies, renewing past relations and generating new business opportunities through joint ventures.

Maharashtra has been chosen as the ‘host state’.  Other major states like Gujarat, Karnataka, Madhya Pradesh, Rajasthan and North Eastern States would be participating as  a partner states showcasing their strengths, investment opportunities and fruitful models for industries.