Technical textiles market to grow four times by 2020

Indian Technical Textiles market is set to grow by more than 4 times to $37 billion in the next 12 years i.e. by 2020, According Technopak Report on 'Indian Technical Textiles Industry:

Stimulating Demand and Promoting Development'. The report pointed out that the growth of Indian market for technical textiles, currently at $8.3 billion and growing at a healthy pace of 11.25%, is hindered by lack of product standards; R&D facilities and innovative technologies; inadequate regulatory measures in various application areas for ensuring use of technical textiles at par with developed countries; lack of economies of scale; inadequate testing facilities and skilled work force.

These deficiencies can be the cause of the future stagnation of different sectors of technical textiles.  The FICCI-Technopak Report was prepared for the FICCI Conference of Indian Technical Textiles Industry which was held in the capital during April 2008.