India's technical textiles market to grow to Rs66,414 crore by 2012
12 Aug 2009
The domestic market for technical textiles is expected to grow at an annual rate of 11 per cent and reach Rs66,414 crore by 2012, from the current base of around Rs37,115 crore, textiles minister Dayanidhi Maran said today.
Addressing a function at the 'Technotex-2009' in New Delhi today, the minister said the global market for technical textiles is also expected to increase to $127 billion by next year from $107 billion in 2005.
He said the technical textiles segment is expected to attract investments to the tune of Rs5,000 crore by 2012. It would also increase the level of employment to 1.2 million by 2012 from 9 lakh at present.
Technical textiles find use in almost all areas of economic activity, including aerospace, agriculture, sports, defence, construction and medicine.
Based on their end use, technical textiles are grouped into twelve segments, viz, Agrotech, Buildtech, Clothtech, Geotech, Hometech, Indutech, Meditech, Mobiltech, Packtech, Protech, Sorttech and Okotech.
* Meditech covers technical textiles used in hygiene like surgical dressing, bandages, surgical gowns, artificial implants, etc.