Table II:

CONSUMPTION OF NONWOVENS IN USA vs. GDP PER CAPITA

(ASSUMING AN INCREASE OF 4.6% IN PER CAPITA EVERY YEAR)

(Per Capita GDP Source: World Bank)

As you may note from the Tables, the growth rate in per capita GDP used for the nonwoven consumption is same as that of the growth rate assumed for the economy. This is fairly an accepted theory in the industry with regard to the relationship between per capita GDP and nonwoven consumption growth. Assuming that the industry is fairly developed when the per capita consumption of nonwovens reaches 3-3.5 kilograms, i.e., the current state of the US and Western Europe industry, India will reach this level in 2030. Indias nonwoven and technical textile industry is highly currently fragmented and is in the embryonic stage. The industry is poised to have a double digit growth of around 13-15% per annum in the next two decades, leading up to a developed stage in 2030. During this period, developed markets such as US and Western Europe are set to grow at a much slower rate of around 5%. Therefore, it is of much value for the global industry to take India seriously and take part in the growth enabling its own development.