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India: Demands vcoice for a packagge to help textile industry |
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2004-7-29
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Technical textile industry leaders today sought a comprehensive package from the government on the lines of IT and BPO industries to achieve a production capacity of $ 20 billion dollars by 2020.
“A comprehensive package including tax concessions, a venture fund for attracting new industries and steps to create awareness among entrepreneurs about this sunrise industry should be announced by the government,” former Secretary, Ministry of Textiles S B Mohapatra said while addressing a two-day seminar on ''Technical Textiles - A Roadmap for India''.
He also informed that two years back a committee was instituted to study the growth and potential of this highly profitable industry, however, bureaucratic bottlenecks led to recommendations remaining unreleased.
“Technical textile industry should be provided fiscal incentive so that entreprenuers are attracted towards this sector,” he added.
Technical textiles are used by defence, automobile, construction and other sectors for manufacturing of automobile covers, fibre-nets, woven hoses for pipeline reconstruction, geotextiles, fire protection equipments and bullet-proof jackets for defence personnel, among othes.
“The global market of technical textiles is 90 billion US dollars which is expected to grow at a rate of 4.5 per cent per annum, however, of this India''s current share is mere 2 per cent and rival China accounts for 20 per cent of the total market,” SRF Limited Chairman and Managing Director Arun Bharat Ram said.
India’s consumption of technical textiles is 0.3 per cent, but studies show that Asia will account for half of the global market of technical textiles, he added.
The endeavour should be capture this huge potential or else China may reap the benefits, he added.
“The initial investment of setting up such a industry may be high but the returns are huge and has tremendous export potential,” Ram said.
Major General R D Singh representing the armed forces called for more innovative products from the industry to meet the demands of modern warfare.
“For us technical textiles can be used to make fire-resistant high quality tents, bullet-proof jackets among other things,” he added.
The two-day seminar will focus on ways and means to encourage entrepreneurs to participate in technical textile industry. |
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