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Ms Sashi Singh calls for investment in technical textiles
27 Sep '10
2 min read
Central Joint Textile Commissioner, Ms Shashi Singh has urged the private sector investors to divert their funds towards the fast growing technical textile industry, which is expected to be worth Rs. 701.5 billion by 2013, to help the government bring down the prices of essential medical products.
She while addressing a seminar on medical textiles stated that, raw materials for medical products including artificial implants, contact lenses, sanitary napkins, incontinence diapers and baby diapers are bought from foreign countries, which elevate the cost of these items. But, if these items are produced within the country, it would be possible to offer better quality products at reasonable prices, she added.
The official informed that, almost all of the textile components for medical products other than surgical dressings and disposables are imported, and as such are very expensive. However, the costs can be brought down if these items are produced locally, and private sector could greatly contribute to the same, she said.
She further stated that, the technical textile sector which has been registering a CAGR (Compounded Average Growth Rate) of 11 percent per annum, since 2007-08 when it stood at Rs. 417.6 billion, is seen to grow to Rs. 701.5 billion levels by 2012-13.
The meditech textile segment of the technical textile industry has great growth potential and is likely to touch Rs. 24.9 billion by 2012-13, while growing at a compounded rate of 8.3 percent per annum. In 2007-08 the industry's earnings stood at Rs. 16.69 billion.
Smt. Shashi Singh has twenty years of versatile experience in the textile field, and was closely associated with Expert Committee on Technical Textiles and Expert Committee on Textile Policy.
Ms Singh is currently working as the Central Joint Textile Commissioner in the Ministry of Textiles; and is in charge of issues like market access agreements, fiscal policies and technical textiles. She is also in charge of Technology Up-gradation Fund Scheme (TUFS).
She while addressing a seminar on medical textiles stated that, raw materials for medical products including artificial implants, contact lenses, sanitary napkins, incontinence diapers and baby diapers are bought from foreign countries, which elevate the cost of these items. But, if these items are produced within the country, it would be possible to offer better quality products at reasonable prices, she added.
The official informed that, almost all of the textile components for medical products other than surgical dressings and disposables are imported, and as such are very expensive. However, the costs can be brought down if these items are produced locally, and private sector could greatly contribute to the same, she said.
She further stated that, the technical textile sector which has been registering a CAGR (Compounded Average Growth Rate) of 11 percent per annum, since 2007-08 when it stood at Rs. 417.6 billion, is seen to grow to Rs. 701.5 billion levels by 2012-13.
The meditech textile segment of the technical textile industry has great growth potential and is likely to touch Rs. 24.9 billion by 2012-13, while growing at a compounded rate of 8.3 percent per annum. In 2007-08 the industry's earnings stood at Rs. 16.69 billion.
Smt. Shashi Singh has twenty years of versatile experience in the textile field, and was closely associated with Expert Committee on Technical Textiles and Expert Committee on Textile Policy.
Ms Singh is currently working as the Central Joint Textile Commissioner in the Ministry of Textiles; and is in charge of issues like market access agreements, fiscal policies and technical textiles. She is also in charge of Technology Up-gradation Fund Scheme (TUFS).
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