News & Insights | Technical Textiles & Non-Wovens

Indian Technical Textiles Market Aims for $40 Billion by 2030, Says Saxena

Published: November 19, 2023
Author: TANVI_MUNJAL

The Indian market for technical textiles is projected to expand to $40 billion by 2030, according to Rajeev Saxena, Joint Secretary of the Ministry of Textiles. Speaking at a conference on technical textiles organized by the Confederation of Indian Industry and the Department of Textiles, Saxena revealed that the current market size stands at $23 billion.

Moreover, the export of technical textile products is anticipated to surge to $10 billion within the next seven years from the current $2.5 billion. To promote growth in the sector, the government has extended the National Technical Textile Mission until 2026. Saxena acknowledged the nation’s dependency on imported high-performance fiber and highlighted the need for increased investments in research and development.

Under the mission, the government has allocated ₹1,000 crore for research and development, with 126 projects valued at a total of ₹371 crore already approved. A dedicated portal for start-ups in the technical textiles segment to seek support under the mission’s umbrella will be launched soon. The Bureau of Indian Standards has also taken steps to enhance the quality of technical textile products by developing 600 quality standards and issuing Quality Control Orders (QCOs) for various products in the sector.

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