Home / News / Taiwanese firms eye Indian technical textile companies

Taiwanese firms eye Indian technical textile companies

18 Apr '16

2 min read

India's technical textile industry has caught the eye of Taiwanese composite and technical textile companies which are exploring partnership opportunities across various industries to meet their growing demand.

With an estimated growth rate of 20 per cent annually, India's technical textile industry is expected 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.

"India is a very dynamic market with a lot of potential and scope for Taiwanese companies to expand their exports. Taiwanese composite and technical textile companies are keen to penetrate their products in India with the growing demand and consumption of technical textiles across multiple industries and sectors," Taiwan Textile Federation Overseas Market Development Specialist Sean Tsai told PTI in Mumbai.

The Bureau of Foreign Trade (BOFT) and Taiwan Textile Federation (TTF) are setting up the Taiwan Pavilion for the fourth time jointly with Taiwan Composites Association (TCA) in 'Technotex 2016', organised by the Ministry of Textiles and an industry body in Mumbai. The three-day exhibition begins on April 21.

Technotex 2016 has drawn 19 leading Taiwanese companies producing high-end composites, innovative technical textiles, raw materials, accessories and non-woven machinery who will exhibit their products at the event.

Taiwanese industries are focusing on automotive, defence, police, fire departments, sports gear and apparel, rainwear, outdoor tents and canopies and protective and safety products among others.

Tsai said some of the Taiwanese industries will be showcasing their products for the first time and looking forward to collaborating with Indian buyers for their products. (SH)

Fibre2Fashion News Desk – India