The Government had commissioned a survey cum study by a management consultancy in order to give an impetus to the fledgling technical textiles sector in the country. The consultancy has recommended adding eight more focus areas to provide a boost to the sector.
ICRA Management Consulting Services (IMaCS) has suggested including areas like packaging, building and construction areas in the policy document. The current size of these eight sectors is Rs 330 billion and is projected to touch Rs 570 billion by 2012-13.
The Indian government and the Textiles Ministry in particular has already identified four major thrust areas within the ambit of technical textiles like Geo-tech, Agro-tech, Medi-tech and Pro-tech for providing immediate attention and growth.
According to experts from the industry, technical textiles is presently on a growth curve and if provided the right impetus has the capability to grow from the current Rs 370 billion to Rs 620 billion in the next 3-4 years at a rate of 11 percent per annum.
IMaCS has conducted a study of 3,000 companies from this burgeoning sector and has commented by saying that, despite having a competitive edge over US and the EU, it lags behind China by 10 percent and by 5 percent with other Asian countries in cost competitiveness.
Among other reasons put forth for the slow development of this sector in India is lack of demand, cost competitiveness and availability of skilled manpower, along with negligible technology support and an absence of regulations promoting usage of technical textiles products.
The report also suggest reduction in duties and taxes on Agro-tech products, which are used in agriculture on the lines adopted for farm inputs like seeds, tractors and fertilizers and also recommends formation of an association amongst stake holders of the industry.
Fibre2fashion News Desk - India
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