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SMEs can drive growth of technical textiles - Technopak
03 Apr '10
2 min read
According to industry experts, there is a vast scope for the still nascent technical textiles to achieve substantial growth from the small and medium enterprises (SMEs) sector in India. Globally, technical textiles are mainly concentrated among SMEs, but the same is not applicable for India.
They are of the opinion that research and development initiatives, if taken up by SMEs will provide the impetus for further and holistic growth in the sector, along with which, a helping hand from the government, by way of incentives and subsidies could do wonders for a sector, which has high growth potential.
Fibre2fashion took the initiative and spoke exclusively to Mr Avinash Mayekar, Associate Vice-President at Technopak Advisors Private Limited. Technopak is an advisory firm, providing specialized consulting services across the entire textile value chain; fibre to retailing.
He said, “Indian Technical Textile Industry can offer a vast scope for small and medium enterprises, because technical textiles are functional textiles and they need to be converted in to finished form, where there is a major role to play for small and medium enterprises in our country, but Government should provide a boost, by giving complete tax holiday and duty exemptions”.
When asked whether, in the way, production of traditional textiles shifted from Europe and US to Asia, does he foresee the same happening in technical textiles, he observed by saying, “Of course yes, because a developing country like India needs a lot of infrastructural growth and due to huge population, geographical area and rapidly growing retail concept, the end destination for all technical textiles would be India”.
They are of the opinion that research and development initiatives, if taken up by SMEs will provide the impetus for further and holistic growth in the sector, along with which, a helping hand from the government, by way of incentives and subsidies could do wonders for a sector, which has high growth potential.
Fibre2fashion took the initiative and spoke exclusively to Mr Avinash Mayekar, Associate Vice-President at Technopak Advisors Private Limited. Technopak is an advisory firm, providing specialized consulting services across the entire textile value chain; fibre to retailing.
He said, “Indian Technical Textile Industry can offer a vast scope for small and medium enterprises, because technical textiles are functional textiles and they need to be converted in to finished form, where there is a major role to play for small and medium enterprises in our country, but Government should provide a boost, by giving complete tax holiday and duty exemptions”.
When asked whether, in the way, production of traditional textiles shifted from Europe and US to Asia, does he foresee the same happening in technical textiles, he observed by saying, “Of course yes, because a developing country like India needs a lot of infrastructural growth and due to huge population, geographical area and rapidly growing retail concept, the end destination for all technical textiles would be India”.
Fibre2fashion News Desk - India
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