Piyush Goyal, minister of state for textiles, said, “We should examine growth, scale, and pace at this point. India is desired to be a part of resilient supply chains. India will have a significant impact on the global economy, and now is the time to seize the global market.”
Goyal spoke at the 10th edition of Techotex’23, which was put on by the Ministry of Textiles, the Government of India, and FICCI “The technical textile market should be worth $100–125 billion by 2047. To reach $200 billion, we can speed things up.” If we can demonstrate how they can be used for other things, the Indian technical textile market will expand by more than 10-12%, he continued.
Given the extensive range of applications for technical The future of textiles lies here “I urge start-ups and major enterprises to think about quickly growing in the technological textiles industry. Our market share worldwide is about 2.5%, but if we can highlight its benefits, I think the Indian market will expand more quickly than 12%.”
