Domestic technical textile market is envisaged to emerge as a major growth area in the textile segment in the forthcoming years. Industry experts predict that the industry with a phenomenal growth of 11 to 12% a year is likely to reach Rs.64, 207 crore by 2013.
A recent survey undertaken by the ICRA Management Consultancy Services at the behest of Textile Commissioner points out that protech (personal and property protection) is expected to achieve the highest growth of 11 to 12%, while packtech (packing) with 37% share in domestic consumption will steer volumes in the next three years.
Similarly, sportech (sports equipments) will see a 15% year on year growth, and oekotech (erosion, protection, air cleaning etc) will increase from 82 crore to 160 crore by 2013.
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Fibre2fashion News Desk - India
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