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Technical Textiles estimated to grow to Rs 2 lakh crore by 2020-21

New Delhi: “Under the aegis of Ministry of Textiles, for the first time in the history of India, we have dedicated to the nation 207 HSN codes for technical textiles. I see this as a function of unleashing the potential of not only technical textiles but also of an industry which impacts both our farm life and our space pursuits.

This decision alone can enable the sector to grow to a market size of 2 lakh crore rupees by 2020-2021”. This was stated by the Union Textiles Minister Smriti Zubin Irani, at the National Conclave on Technical Textiles, jointly organized by the Ministry of Textiles and FICCI, in Mumbai today. Stating that the notification is a milestone which is significant for the industry, the Minister thanked the industry who have guided and inspired the Government in this initiative.

To monitor the data of import and export and in order to provide any fiscal support to the technical textile sector, the first step was to recognize and notify separately the technical textiles items spread from chapter 1 to 99 of HSN classification book. In absence of clear classification of technical textiles, there was confusion and many genuine manufactures were not getting various incentives being allowed to the technical textile sector by Central and State Governments.

To fulfil the long-standing demand of industry to declare Technical Textile items as a separate category, Government of India has notified 207 HSN Codes as Technical Textiles. This step will give a major boost to the Technical Textile sector in India and it is expected that this step of Government will act as a catalyst for achieving the Market Size of Technical Textiles up to Rs.2.00 lakh crore by 2020-21.

- from the booklet titled "Government of India's Initiatives in Technical Textiles & Notification of HSN Codes for Technical Textiles" released by the Textiles Minister today.

Speaking about the potential of agricultural textiles, the Minister said that it has been proven that the income of a farmer who uses agrotech goes up by 60% - 70%. She said that the contribution of agrotech is at the forefront of the Prime Minister’s desire to double farmers’ income. Technical textile industry can proudly say that we help those who feed us, said the Minister.

The job-giving potential of the technical textiles sector is huge; every Rs. 1 crore investment generates 70 jobs, said the Minister. She said that this will lead to growth in sectors such as research, education and facilities such as testing labs as well. The partnership between agrotech companies and Krishi Vigyan Kendras can be very impactful, noted the Minister. She cited a McKinsey Global Institute report, according to which application of agricultural technologies can help close to 90 million farmers by 2025.

Speaking of the historic initiative of Ayushman Bharat, the Minister said that the government is poised to unleash close to 1.5 lakh health and wellness centres across the country. These will be in need of medical textiles. Given standardization and need for quality control, our domestic manufacturers can compete and contribute to the MedTech segment, said the Minister.

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