FICCI@100 : 836 days to go
Contact FICCI
#FICCIAGM
Become a Member Members Zone Employee Zone

Press Release

Government looking at mandatory use of technical textiles in over 90 areas, 40 new HSN codes in Technical Textiles soon - Textile Secretary Ravi Capoor at Technotex-2019

Aug 29, 2019

Need to have an umbrella organization to oversee interactions between industry, R&D centers and government - Dr V K Saraswat, Member, NITI Aayog

 

Mumbai, 29th August 2019: Mr Ravi Capoor, Secretary, Ministry of Textilestoday said that government is in the process of finalizing 40 new Harmonized System of Nomenclature (HSN) codes for technical textiles sector in coming months.

Speaking at the 'TECHNOTEX 2019 - Technical Textiles: Technologies, Markets and Investments', Mr Capoor said that the government has already established HSN codes for 207 items, yet a large number of items are still not under any specific category of codes. "Another list of 40 such HS codes have been under consideration and in next few months we will have dedicated codes for 40 such items," he said.

Mr Capoor stressed on the mandatory use of technical textiles in over 90 areas, which the government is currently discussing. He further highlighted that 'technical textiles' is the sunrise industry of the country and we have to create an ecosystem for time-bound research in the institutions for technical textiles segment.

Highlighting the potential of this sector in India, Mr Capoor said that globally the technical textiles market is around US$ 200-250 billion with a very high CAGR and India is still not in the forefront in terms of annual growth rate of the sector. He emphasized on the need to have private sector participation in government's research system with a time-bound output strategy.

Dr V K Saraswat, Member, NITI Aayog highlighted the factors contributing to the growth of this sector which includes rising consumer awareness, usage and improvement in the overall process innovation.

Dr Saraswat also highlighted the need for establishing a coordinated approach between various stakeholders and the government to boost the sector. "We need to have an umbrella organization for better coordination between the industry, R&D centers and government," he said.

Ms Sangita Reddy, Senior Vice President, FICCI said India has a distinct advantage in making India the global hub for technical textiles and we must capitalize on this. She also highlighted the need for developing standardization and regulation for the growth of technical textiles sector.

Mr Shishir Jaipuria, Chairman, FICCI Textile Committee and CMD, Ginni Filaments Ltd said that Industry-led R&D efforts will boost the technical textiles sector. He further said local value-addition needs to be promoted so that the import dependency is reduced.

Mr S K Khandelia, Co-Chair, FICCI Textiles Committee and Group President, Sutlej Textiles & Industries Limited along with Mr Punit Lalbhai, Executive Director, Arvind Mills Limited and Mr Mohan Kavrie, Managing Director, Supreme Group also shared their perspective on the potential of the technical textiles sector in India and abroad.

Also Read

Event

Study