Textile market is set to achieve target of Rs. 2 lakh cr: Chavan, Textiles Committee Secy
Mumbai, 1 Dec (KNN) The Techtextil India 2021 took place in Mumbai at Bombay Exhibition Centre after a two-year hiatus and was inaugurated by key industry and government figures.
Ajit Chavan, Secretary - Textiles Committee, Ministry of Textiles, Government of India was one of the guest who inaugurated the event, as per the press release.
The aim of this textile trade fair aims was to showcase the future potential of technical textiles backed by a series of knowledge sessions, live product demos and B2B networking opportunities.
Addressing the industry at the inauguration, Chavan shared, “The government of India’s policies are completely catered towards the growth of technical textiles. We have a target of INR 2 Lakh Crore in the country and the Indian industry is geared up to achieve that market potential. As a country, we have a great lot of scope in agrotech and medtech, while we have always been at the forefront of packtech, geotech and other high-technology areas.”
Commenting on the policies, he added “The PLI scheme will be a major fillip in manufacturing of technical textiles and the textile parks will provide integrated linkages with the technical textile value chain.”
Elaborating on Germany’s participation at the fair, Chavan also said: “Techtexil India is a great platform for bringing the technical textile stakeholders together. Despite the pandemic related difficulties, I am happy to see Germany participating in this important fair and I am sure that they will find good business and collaborations between Indian entrepreneurs and German industries.”
Weavetech Engineers, Lenzing Fibers India Pvt Ltd, Khosla Profile Pvt Ltd, Lucky International, Meera Industries Ltd, Park Non-Woven Pvt Ltd, Sarex Chemicals, Alok Masterbatches Pvt Ltd, SICAM and Suntech Geotextile Pvt Ltd are some of the leading Indian companies participating in the 2021 fair.
One of the key highlights of Techtextil India was the special showcase of German technology at an exclusive German pavilion, featuring some of the top technical textile manufacturers from the country, such as Autefa Solution Germany GmbH, DILO Systems GmbH, Emtec Electronic GmbH, Georg Sahm GmbH & Co, Karl Mayer Verwaltungsgesellschaft mbH, Merz Maschinenfabrik GmbH and Oerlikon Barmag Zweigniederlassung der Oerlikon Textile GmbH & Co.
On the domestic front, the nodal agency for investment promotion and facilitation for the Government of Tamil Nadu – Guidance are showcasing their prowess in technical textiles along with some of the major industry players from the state, including Cyber Textiles India Pvt Ltd, Jayashree Spun Bond, Lenzing Ag India, Liester Technologies, Loyal Textile Mills Ltd, Milltex Engineers Pvt Ltd, Superfil Products Pvt Ltd, Uster Technologies (India) Pvt Ltd.
Referring to the potential of the domestic technical textile industry, Amit Agarwal, Chairman, Indian Technical Textiles Association (ITTA) said “We are at an inflection point where our consumption, manufacturing and export potential is huge. The growth of technical textiles will happen as the per-capita income increases and therefore, all the application areas of technical textiles in India have an equal potential to grow. I personally forsee that 10 to 15 per cent of compounded annual growth year-on-year is possible in India.”
Day two is set to host the next chapter of Techtextil India Digital Symposium allowing attendees to gain insight into major growth prospects and emerging opportunities in India. Aimed at ‘Transforming India’s Technical Textile Landscape through Innovations and Investments’, the virtual platform will feature a series of sessions on Foreign Direct Investment Opportunities and Policies, Investment opportunities in Tamil Nadu, Investments & Opportunities in South Carolina for Technical Textiles sector, PLI & New Investment Opportunities, Sustainable Technical Textiles and Global sustainable approach for Textiles with Antimicrobial Performance.
Moreover, attendees and buyers who are unable to attend the physical show were able to witness product demonstrations virtually and engage with exhibitors via the virtual platform.