Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Industry & Economy
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Textiles States - Other States Technical textiles market may grow to $7 b by '07 Our Bureau
Wearable design The sector has enormous applications and prospects, especially in the West. The world trade is over $50 billion per annum and growing.
New Delhi , March 9 The domestic technical textiles market, which is poised to emerge as a major growth area in the textiles sector, could grow to around $7 billion by 2007, an industry expert said here on Thursday. "The Indian technical textile industry can touch $7 billion in size as the market for the sector is expected to see increased growth," IIT Delhi's Head of Department for Textile Technology, Mr V.K. Kothari, said at a meet organised by Business Co-ordination House. The meet had representations from some of the world's largest technical textile companies. These include senior executives from 3M, Henkel, BBA Fiberweb Group, Huhtamaki and Fulflex. The major growth areas in the technical textiles sector include medical textiles, construction textiles, packaging textiles, baby diapers and home textiles, said Managing Director, BCH, Mr Samir Gupta. "Though still a nascent industry in India, the technical textiles sector has enormous applications and prospects, especially in the West. The world trade in technical textiles is over $50 billion per annum and it is growing at an accelerated pace," Mr Gupta said. Realising the export potential of the sector, the Government has undertaken a slew of initiatives for promoting the sector, including a scheme for the setting up of integrated textile parks. At present, the domestic technical textile industry produces items for all the 12 segments of the industry.
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