Increasing demand lures investments in technical textile sector

14 Mar '08

1 min read

Technical textile is a lot in demand and enterprises are also emphasizing on making huge investments in the sector.

Experts believe that unless investments are made in technical textiles, import of these goods will continue to surmount every year.

Textile Commissioner of India has endeavored to collaborate with Textile Research bodies and the Association for Non-woven textiles, USA, for conducting awareness programs about the technical aspect of the industry.

Besides, some of the leading textile companies are looking forward to invest about Rs2000-3000 crore.

Furthermore, in order to facilitate easy availability of information, Centres of Excellence will be developed at the textile research associations.

The Southern India Textile Research Association (SITRA) will be a centre of excellence for medical textiles, the Northern India Textile Research Association, for productive textiles, the Bombay Textile Research Association for geo textiles and Synthetic and Art Silk Mills Research Association and Man-made Textile Research Association for agro textiles.

In fact even the banks have started receiving proposals for financing projects under Technology Upgradation Fund (TUF) scheme, most of which involve spheres like technical textiles, processing and garments.

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