Tamil Nadu Targets ₹1,000 Crore Investment in Technical Textiles by 2030

State focuses on MSME-led growth, functional textiles and new industrial investments to strengthen the technical textiles sector.

The Tamil Nadu government aims to secure ₹1,000 crore in investments in technical textiles by 2030, according to T.N. Venkatesh, Principal Secretary, Department of Handlooms, Textiles, Khadi, and Handicrafts.

Speaking at the inauguration of a conference on technical textiles organised by the Department in Coimbatore, he said the initiative is intended to encourage investments by the Micro, Small and Medium-scale (MSME) sector in functional textiles.

The State plans to prioritise technical textiles used across the automobile, healthcare, sports, agriculture and construction sectors.

During the event, industrial establishments exchanged Memoranda of Understanding (MoUs) with the government to bring in ₹123 crore in investments. These projects are expected to be commissioned by the end of the year.

T.N. Venkatesh said that at least five new technical textile industrial units are expected to be established in the four major regions of Tamil Nadu over the next three years. He also stated that the State would soon establish a centre of excellence dedicated to athleisure (sports-related) products.

According to him, Tamil Nadu's annual textile exports currently stand at $8 billion, while the Centre has set a target of $21 billion.

Minister for Handlooms, Textiles, and Khadi M. Vijay Balaji said the Department would introduce measures to attract investments and generate employment in the textile sector. He noted that Tamil Nadu has traditionally been a leader in textiles and stated that the sector would be strengthened and revived. He added that the government would strive to make Tamil Nadu's technical textile sector a model for the world.

Coimbatore District Collector Pavankumar G. Giriyappanavar said the textile industry's contribution to the district's economy has been significant.

Chairperson of the Southern India Mills' Association (SIMA), Durai Palanisamy, said the State should convert the interest subsidy currently offered for technical textile investments into a 15% capital subsidy. He also stated that while cotton remains the State's strength, manmade fibre will drive future growth, and urged the government to introduce measures to strengthen the textile processing sector.

K.S. Sundararaman, chairperson of the SIMA Cotton Development and Research Association, said the asset turnover ratio is the highest for technical textiles within the textile and apparel sector.