"Text": "Critical Market Data & Insights on Nonwovens & Technical Textiles: TexPro – Take a Free Trial",
Home / News / Techtextil India to discuss future prospects of technical textiles
Techtextil India to discuss future prospects of technical textiles
Pic: Techtextil India
As the Indian technical textile segment gains momentum and more attention, this year’s Techtextil India - the country's leading trade fair in technical textiles, nonwovens and composites – is all set for September. The fair will bring together stakeholders across the 12 application areas who will present innovations and discuss pathways for the future.
The show, to be held during September 1-3, is expected to be held as a physical expo in conjunction with its online event.
Known as India’s sunrise sector, the Indian technical textile industry has witnessed high growth over the years emerging as the fastest growing sub-segment, thanks to its flourishing raw material market and a multitudinous-yet affordable labour force.
While the industry serves a variety of segment with its versatile application areas, medical textiles have witnessed the strongest growth in the recent period. During the critical stages of lockdown when global trade came to a grinding halt, the medical textiles provided a much-needed boost to the economy. From primary importer of PPE kits, India emerged as the “second largest producer” in just two months. By the end of 2020, India had exported over 20 million PPE kits and more than 40 million N-95 respirators around the globe, including countries such as the US, the UK, UAE, Slovenia and Senegal.
“This incredible milestone epitomises India’s local manufacturing strength and foreshadows what the industry can achieve in the coming years,” said Raj Manek, managing director of Messe Frankfurt India, and the organiser of leading industry trade fair - Techtexil India.
“New schemes and policies to uplift the textile segment will provide much aid and encouragement to local manufacturers, enabling them to become ‘Aatmanirbhar’ (self-reliant) and produce quality medical textile products to cater to both domestic and international markets,” Manek added.
While technical textile is one of India’s most prominent segments, its consumption rate is pegged only at 5-10 per cent as compared to 30-70 per cent consumption in more developed countries. Efficient channelling of resources and improvement in local supply chain is therefore crucial to produce and sell goods at reasonable rates, and gain a competitive advantage over other foreign players in the market.
An estimated outlay of $ 211.76 million, proposed under National Technical Textiles Mission, is set to give a fillip to key application segments, including medical textiles. Prime Minister Narendra Modi in his recent address to textile industry stakeholders has also urged micro, small and medium enterprises to focus on adopting global standards, so as to partner with global sourcing giants and tap into international markets.
The global medical textile market valued at $13 billion in 2020 is expected to reach $17 billion by 2026 at a CAGR of 4 per cent. Going forward, the development of local supply chain coupled with disciplined product standards will enable India to emerge as a leading exporter of medical textile products in the coming years.
Fibre2Fashion News Desk (SV)
As the Indian technical textile segment gains momentum and more attention, this year's Techtextil India - the country's leading trade fair in technical textiles, nonwovens and composites – is all set for September. The fair will bring together stakeholders across the 12 application areas who will present innovations and discuss pathways for the future.