Indian technical textiles sector to reach $28.7bn by 2017
August 09, 2012 - India
Technical textiles market size in India will skyrocket to US $28.7 billion by 2016-17.
Speaking at an event organized by Ministry of Textiles-India and PSG College of Technology in Coimbatore-India, Ministry of Textile officials were upbeat about the growth prospects of the technical textiles industry in India.
According to government officials, the market size of technical textiles in India will reach US $28.7 billion from the current size of US $10.3 billion. Five year’s back, the market size of this industry was US$ 7.6 billion.
Industrial segment of the technical textiles is estimated to grow at an annual rate of 11% and contribute 8% to the total technical textiles market.
In 2008, Texas Tech University’s report had predicted that India’s technical textiles sector will grow in double digits and the next two decades will witness steady growth.
Click here to view the Texas Tech University report.
Speaking at an event organized by Ministry of Textiles-India and PSG College of Technology in Coimbatore-India, Ministry of Textile officials were upbeat about the growth prospects of the technical textiles industry in India.
According to government officials, the market size of technical textiles in India will reach US $28.7 billion from the current size of US $10.3 billion. Five year’s back, the market size of this industry was US$ 7.6 billion.
Industrial segment of the technical textiles is estimated to grow at an annual rate of 11% and contribute 8% to the total technical textiles market.
In 2008, Texas Tech University’s report had predicted that India’s technical textiles sector will grow in double digits and the next two decades will witness steady growth.
Click here to view the Texas Tech University report.