India to exceed $10 bn technical textiles export target by 2030: Singh

Singh highlighted the growing global and domestic demand for technical textiles and man-made fibres, reiterating the government's commitment to supporting the industry through initiatives such as the National Technical Textiles Mission (NTTM) and the Production Linked Incentive (PLI) scheme.

During the event, the minister launched the Compendium of the National Technical Textiles Mission and awarded confirmation certificates to 11 start-ups approved under the NTTM. He noted the approval of 156 research projects under the mission, with a focus on carbon fibre development and advancements in Meditech, particularly hygiene products, which he identified as key areas for achieving the $10 billion target, the Ministry of Textiles said in a press release.

Emphasising the importance of High-Performance Fibres in industries such as aerospace, automotive, and construction, Singh urged local stakeholders to capitalise on these opportunities and contribute to India’s rise as a global leader in technical textiles.

Pabitra Margherita, Minister of State for Textiles, supported the vision, calling for continued investment and promotion of the sector, especially in the context of India’s broader Atmanirbhar Bharat initiative. He noted that various state governments are actively encouraging investments, including foreign direct investment (FDI), in technical textiles.

Rachna Shah, Secretary of the Ministry of Textiles, noted that the global technical textiles market is worth $300 billion, while India’s domestic market stands at $25 billion, with exports currently at $2.6 billion. She stressed the government's focus on setting standards, Quality Control Orders, and fostering interdepartmental collaboration to boost the industry.

ISRO chairman Dr. S Somanath underscored the critical role of composites and high-performance fibres in aerospace, urging Indian industry to develop these products domestically to reduce import dependency and tap into the global market.

The event's opening session featured panel discussions on employment, innovation, social impact, and the future direction of the technical textile industry, with participation from government officials, industry leaders, researchers, and entrepreneurs.

Fibre2Fashion News Desk (KD)