Next Phase is a Must

As President Obama enters his 100 days in office, unemployment rate is as high as 8.5 % in the US. Consumer confidence is low as reflected in a recent survey where once essential items such as dishwashers, microwaves are no longer "must buy" products. Why are these aforementioned facts important? It is because consumers are important for the textile industry. It will take two more years for the recession to rebound so that people can flock Starbucks for a four dollar Cafe Latte. Even after the economy rebounds, competition from low-wage countries will deter exports from India, which India enjoyed with relish in the early 2000s. Therefore, it is a must for India to develop a nimble next-generation technical textiles industry. How to go about this? Developing the converting sector with a strong R&D support sector to help entrepreneurs to develop products that are of need in a short timeframe is the first step in the long road towards progress in technical textiles industry. To reassure the importance of growing the next phase of the Indian textiles industry, i.e., technical textiles, let us look nowhere else than the time that will take the economy to upswing. It will be at least the end of 2010. It is not my prediction. Guess who said this? In the famed television newscast program, CBS 60 Minutes, US Vice President Joe Biden to question on why unemployment will be high till 2010 by Lesley Stahl answered "it took long time to get here and it will take some to recover." These words clearly indicate that consumer markets are changing and the Indian textiles sector should adapt fast.

The information expressed are personal views of the author. Here 'I' refers to him.

The article was originally published in Textile Review, May 2009

About the Author

The author is associated with Nonwovens & Advanced Materials Laboratory, Texas Tech University, Lubbock, Texas, USA.