The Hindu Business Line : Technical textile trade wants special sops to meet $20-b output target

PLAYERS from the technical textile industry on Wednesday sought a comprehensive policy package from the Government for achieving a production target of $20 billion by the year 2020.

Technical textiles are used by defence, automobile, construction and other sectors for manufacturing of automobile covers, fibre-nets, woven hoses for pipeline reconstruction, fire protection equipment and bullet-proof jackets for defence personnel.

"The global market for technical textiles is $90 billion which is expected to grow at a rate of 4.5 per cent per annum. Of this, India's current share is mere 2 per cent and rival China accounts for 20 per cent of the total market,'' the SRF Ltd Chairman and Managing Director, Mr Arun Bharat Ram, said here at a two-day seminar on `Technical textiles - A roadmap for India'.

The Indian consumption of technical textiles is also low at 0.3 per cent, but studies show that Asia will account for half of the global market.

The endeavour should be to capture this huge potential or else China may reap the benefits. "The initial investment of setting up such a industry may be high but the returns are huge and has tremendous export potential," Mr Ram said.

Speaking at the seminar, the former Textiles Secretary, Mr S.B. Mohapatra, said: "A comprehensive package including tax concessions, a venture fund for attracting new industries and steps to create awareness among entrepreneurs about this sunrise industry should be announced by the Government."

He also pointed out that during his tenure two-years ago, the Government had formed a committee to study the growth and potential of this highly profitable industry, but the recommendations had still not been released.

"Technical textile industry should be provided fiscal incentives, so that entrepreneurs are attracted towards this sector," he added.

Speaking at the seminar, Major General R.D. Singh representing the armed forces, called for more innovative products from the industry to meet the demands of modern warfare.

The two-day seminar will deliberate on ways and means to encourage entrepreneurs to participate in technical textile industry.