CITI hails decision to set up EPC for technical textiles
December 07, 2020 - India
The Confederation of Indian Textile Industry (CITI) has welcomed the government decision to form a dedicated Export Promotion Council (EPC) for Technical Textiles. Its chairman T Rajkumar said that the government target of achieving a market size of $350 billion by 2024-25 for the textile and apparel sector can only be realised by going beyond the conventional segments.
“Until and unless, we go for out of box solutions and show tremendous growth in the technical textiles, achieving the market size of $350 billion looks highly unlikely. Hence, in the present backdrop, the decision of setting up of a dedicated export promotion council is a step in the right direction,” he said in a statement.
In February this year, the Cabinet Committee on Economic Affairs approved the setting up of a National Technical Textiles Mission (NTTM) with a total outlay of ₹1,480 crore, which will be implemented between 2020-21 and 2023-24. The dedicated EPC is one of the four components of the NTTM, aimed mainly at achieving a 10 per cent growth rate every year until the mission ends.
Rajkumar pointed out that till now India has been a net importer of technical textile products and the penetration level of technical textiles in the country is very low at 5-10 per cent, against 30-70 per cent in advanced countries.
“Until and unless, we go for out of box solutions and show tremendous growth in the technical textiles, achieving the market size of $350 billion looks highly unlikely. Hence, in the present backdrop, the decision of setting up of a dedicated export promotion council is a step in the right direction,” he said in a statement.
In February this year, the Cabinet Committee on Economic Affairs approved the setting up of a National Technical Textiles Mission (NTTM) with a total outlay of ₹1,480 crore, which will be implemented between 2020-21 and 2023-24. The dedicated EPC is one of the four components of the NTTM, aimed mainly at achieving a 10 per cent growth rate every year until the mission ends.
Rajkumar pointed out that till now India has been a net importer of technical textile products and the penetration level of technical textiles in the country is very low at 5-10 per cent, against 30-70 per cent in advanced countries.