Contact FICCI
India Poised to Lead Global Technical Textile Market: Giriraj Singh
Sep 06, 2024
Urge all states to introduce special provisions for technical textiles: Pabitra Margherita, Union Minister of State for Textiles
NEW DELHI, 06 September 2024: According to Shri Giriraj Singh, Union Minister of Textiles, India is set to become a world leader in the technical textile market in the coming years. Speaking at the FICCI and Ministry of Textiles’ event: “Viksit Bharat- Technical Textiles for Sustainable Growth & Development,” the Minister expressed confidence in India's ability to dominate this rapidly growing sector, which encompasses engineered textile products for various applications, including automotive, aerospace, and medical industries.
"I am fully confident that in the coming days, India will not only lead in market size but will also be number one in the technical textile sector," Singh stated, highlighting the government's commitment to fostering growth in this innovative field.
Several key initiatives and developments in India's technical textile landscape underpin the Minister's optimistic outlook. A dedicated National Technical Textile Mission with a budget of 1400 crore rupees has been launched to drive research and development, marketing, export promotion, and education in technical textiles. Minister Singh revealed that 156 R&D projects have already been initiated, signalling a strong push towards innovation in the sector.
The government's vision for the technical textile sector extends beyond economic growth. Singh emphasised the industry's dual benefits: "It will provide both safety solutions and employment opportunities to our people," he said, highlighting the sector's potential to contribute to India's socio-economic development.
Speaking on the occasion, Union Minister of State for Textiles, Shri Pabitra Margherita, emphasised the government's commitment to the technical textile industry. "The Ministry of Textiles has set ambitious targets for India's technical textile sector, aiming for a domestic market size of USD 40 billion by 2030 while also targeting total exports of USD10 billion by 2030," Margherita stated.
The Minister highlighted the National Technical Textile Mission (NTTM) as a cornerstone of the government's strategy. "NTTM is an important step towards developing this industry," he said. "Key focus areas include 156 R&D projects, the development of new applications for technical textiles, rationalisation of HSN codes, and release of quality control orders."
Margherita also stressed the sector's potential to attract foreign direct investment (FDI). "Technical textiles have maximum potential to attract FDI. Favourable state policies are essential to harness this opportunity," he noted. The Minister urged states that still need to introduce special provisions for technical textiles to consider implementing similar measures.
In a move to boost investment, Margherita extended an invitation to both national and international investors. "I want to invite both the national and international investors present at this conference to invest in the Indian technical textile sector and tap the large untapped market opportunity," he said.
Dr. S Somanath, Chairman, ISRO, & Secretary, Department of Space, highlighted the crucial role of technical textiles in India's space program. He emphasised ISRO's long-standing use of composites and advanced fibres since the 1970s, noting the current reliance on imports for high-performance materials. Dr Somanath stressed the need for domestic production of specialized fibres and investment in tooling and machinery. He underscored that enhancing India's capabilities in technical textiles is vital for scaling up the space program and increasing launch frequencies.
Besides, Smt. Rachna Shah, Secretary, Ministry of Textiles, outlined the government's multifaceted approach to boost the technical textiles sector. She highlighted key initiatives such as the National Technical Textiles Mission, focusing on R&D and specialty fibres, and the PM Mitra Mega Textile parks for creating integrated value chains. Shah emphasized the push for BIS standards and stressed on inter-ministerial collaboration and partnerships with state governments to increase demand. The Secretary also underscored the government's commitment to addressing infrastructure gaps and attracting foreign direct investment to achieve the target of $10 billion in exports by 2030.
Mr Rajeev Saxena, Joint Secretary, Ministry of Textiles, elaborated on the government's comprehensive strategy to bolster the technical textiles sector. He highlighted several key initiatives under the National Technical Textile Mission, including substantial support for machinery development and start-ups. "We're offering up to 80% government contribution for indigenous machinery development through institutions, and a 50-50 split with industry partners," Saxena explained. He also emphasised the mission's focus on quality, stating, "We are developing over 600 standards and introduced quality control orders for 57 items in agrotextiles and medical textiles, among others" Saxena outlined the government's commitment to skill development, revealing an investment of 178 crores to support 32 educational institutions in introducing technical textile courses. He also noted recent additions to HSN codes to facilitate exports, underlining the government's multi-pronged approach to nurturing this critical sector.
Mr Manmohan Singh, Co-Chair, FICCI Committee on Textiles and Technical Textiles & Group Executive President & CMO Grasim Industries, emphasised the sector's remarkable growth, stating, "India's technical textile market, currently the fifth largest globally at USD22 to USD23 billion, has nearly doubled in the last decade and continues to grow at 8-10% CAGR." Mr Singh outlined ambitious targets for the future, projecting 15-20% growth in the coming years, with the domestic market size potentially reaching USD50 billion.
Mr Mohan Kavire, Chairman of Supreme Group, offered a perspective from the industry, acknowledging the government's consistent support over the past two decades. He emphasised the need for a strategic shift in focus, stating, "What we really need are the technical textiles for today and tomorrow." Mr Kavire highlighted the challenges faced by new entrants, particularly the high costs associated with land acquisition and construction, proposing "Land in industrial parks should not be sold, but rented to reduce the initial burden on first-time promoters." To further encourage innovation, Kavire suggested that "all testing equipment should receive 100% support after the first year of operation."
Shri Prashant Agarwal, Co-founder & JMD, Wazir Advisors, outlined the sector's impressive growth trajectory: "The global trade of technical textiles stands at $172 billion, with Europe leading the market." Agarwal emphasised the industry's potential for high margins and value addition, projecting that India's domestic market would grow from $25 billion to $40 billion by 2030, with exports expected to surge from $2.6 billion to $10 billion. He stressed the importance of creating a robust ecosystem, emphasising innovation, research, industry-academia collaboration, and the need for FDI partnerships.