Tamil Nadu: The Federation of Indian Export Organisation (FIEO) is reportedly in talks with various agencies for setting up a technical textiles cluster in Tamil Nadu where common facilities including R&D centres could be provided for start-ups in the sector.
Dr. A. Sakthivel, Regional Chairman, FIEO (Southern Region) stated, “Very few are into export of technical textiles at present. Though potential is immense, but exporters would have to look at product diversification to achieve higher growth.”
With the increase in disposable income, the consumption of technical textiles is expected to increase. Based on past trends and estimated end-user segment growth, the technical textiles market in the Indian market is expected to reach Rs. 1,58,540 crore by 2016-17 at a year-on-year growth rate of 20 per cent as targeted in the 12th Five Year Plan.
Referring to the needs of technical textiles in Indian export sector, Shaktivel cited the example of the textile sector, where emerging demand in the world was for the technical textiles sector in past decade. It may be noted here that with per capita consumption of technical textiles in the country is at 1.7 kg as against 10-12 kg in developed countries; the potential is huge for the sector in India.
Further commenting on the textile export performance of India in the month of January, Shaktivel said, “The positive growth, coming after two years of consecutive negative growth, was the result of various steps taken by the Government, including special packages for textile and leather sector, interest equalization scheme announced for five years.”