11 December 2008 16:08 [Source: ICIS news]
NEW DELHI (ICIS news)--India’s technical textiles industry is expected to grow 11-12% year on year to reach sales of Indian Rupees (Rs) 642bn by the 2012-13 financial year from 375.65bn at present, a government-linked consultancy said on Thursday.
“The present downturn in the global economy will have a short-term impact on the Indian textiles industry with the industry maintaining its long-term growth forecast,” ICRA Management Consultancy Services (IMaCS) said.
The report groups technical textiles into 12 categories based on applications. Of these, four segments were expected to be the main drivers of the industry’s growth - personal and property protection (Protech); packaging (Packtech); environmental protection (Oekotech); and sports & leisure (Sporttech).
It has shortlisted 25 products for renewed focus on the basis of basis of export potential, estimated domestic consumption and share of imports in total domestic consumption.
These include sports footwear components, fiberfill, airbags, ballistic protective coating and nylon tyre cord.
The Textiles Ministry commissioned the baseline survey to assess supply and demand and to assess the policy, regulatory and technological interventions needed to accelerate the industry’s growth.To discuss issues facing the chemical industry go to ICIS connect
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