Taiwanese composite and technical textile companies are exploring partnership opportunities with Indian firms across various industries to meet their growing demand.
India’s technical textile industry is expected to grow at a rate of 20 per cent annually to touch $30 billion over the next five years. The composite industry is also pegged at $2.2 billion with an expected growth of 15 per cent per annum over the next four years.
The Bureau of Foreign Trade (BOFT) and Taiwan Textile Federation (TTF) are forming the Taiwan Pavilion for the fourth time jointly with Taiwan Composites Association (TCA) participating in ‘Technotex 2016’, organised by the Ministry of Textiles and an industry body in Mumbai this week.
The multiple industries and sectors Taiwan is focusing on include automotive, defense, police, fire departments, sports gear and apparel, rain wear, outdoor tents and canopies and protective and safety products among others.