BCH MD's outlook on budget 2007-08

26 Feb '07

2 min read

Technical Textile industry in India is recognized as one of the most dynamic and promising area for the future of the textiles industry. The market size for Technical Textile in India in 2005 was US $ 6.7 billions, which is expected to reach US $ 10 billion by 2010.

The Budget 2006-07 had carried forward the process and continuation of technology upgradation fund, integrated textile parks and decline in customs duty on capital inputs & aimed at improving competitiveness of Indian textile industry.

In the upcoming budget 2007-08, in order to have level playing field, Import duties should be rationalized & in line with other countries, so that till the time the Technical Textiles or raw material or machinery for Technical Textiles, are not being manufactured in India, they can be available at international prices.

Further, construction activity in India has been estimated to be around US $ 50 billion per annum & accounts for around 6% of Indian GDP. Construction textiles will witness a market share of Rs. 1503.25 crore by the year 2007-08 and therefore, considering the boost in Infrastructure in the country, the suggestions given by us for the use of Technical Textiles in the various Infrastructure project, should be considered.

Business Coordination House

More Business Coordination House (BCH News... More Textiles News - India...