New Delhi, Sep 6 (SocialNews.XYZ) The Indian technical textile industry exports are projected to cross $10 billion by 2030, Union Textiles Minister Giriraj Singh said on Friday, adding that the niche carbon fibre will likely be produced by India in 2025-26.
The global trade of technical textiles is around $300 billion while India’s domestic market size stands at $25 billion with an export of $2.6 billion.
The minister expressed confidence that the carbon fibre -- used in aerospace, civil engineering and defence as an alternative to metal -- will be produced by India in 2025-26. Currently, India does not produce any carbon fibre and relies on imports.
The minister emphasised the increasing consumption and importance of man-made fibres and technical textiles in all spaces of life, at both a global and domestic level.
“The government is fully dedicated to the development of the technical textiles industry of India and has taken various steps such as launch of National Technical Textiles Mission, PLI Scheme for MMF Fabric, Apparel and Technical Textiles,” Singh mentioned during an event here organised by the Ministry of Textiles, FICCI and the Indian Technical Textile Association (ITTA).
The minister also launched the Compendium of the National Technical Textiles Mission (NTTM) and also awarded confirmation certificates to 11 approved startups under NTTM.
He informed that 156 research projects have been sanctioned including, development of carbon fibres and support to startups under different areas of technical textiles, under the mission.
Singh displayed confidence in the ability of the local industry, government and stakeholders in the development of high-performance fibres that have huge applications in different field including aerospace, automobile and construction.
The minister reiterated the complete support of the government to become a global leader and the largest manufacturer and market of technical textiles.
Minister of State for Textiles, Pabitra Margherita, said the nation is advancing towards becoming ‘Atmanirbhar’ in all sectors, including technical textiles.
Margherita also mentioned that multiple state governments have taken initiatives for promoting investments, including FDI, in the technical textiles industry and urged other states to do the same.
The government urged the industry and stakeholders to carry out large scale investments in this sector, including the development of complex machinery to not only cater the local demand but also tap the large global market.
Source: IANS
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