Tech textiles market likely to reach USD 3 bn in 2 yrs: Smriti

Speaking after inaugurating a three-day Global Textile Expo in Coimbatore, the Union Minister said that technical textiles would get a boost with the country notifying HSN codes for over 207 textile items.

“The technical textiles market is likely to reach $3 billion in another two-and-a-half years. Hence, the textile industries should come forward to tap this market, to bring Tamil Nadu into the forefront,” she said.

Stating that the arrival of buyers from 20 countries in the buyer-seller meet would boost businesses in the textile sector, the Minister also highlighted the various welfare schemes introduced by the central government to increase textile trade.

“Tamil Nadu has been in the forefront in implementing majority of the welfare schemes. Besides bringing schemes to boost the textile industry, measures have also been taken to mitigate issues arising out of the increase in yarn prices. There are also ample opportunities in medical textiles,” the Textiles Minister said.She listed out schemes like yarn bank scheme, powered, power-loom cluster, group insurance scheme under social security and also GST, which have benefitted Tamil Nadu.

TN Handlooms Minister O S Manian said that Tirupur remains a major job market. “From textile exports, India earns a revenue of Rs 35,000 crore from foreign exchange and Rs 20,000 crore through domestic sales. A target has been fixed to double this revenue to 1 lakh crores,” he said.

He appealed to youngsters to take up weaving and introduce technological innovations to uplift the livelihood of weavers. He also appealed to the Union Minister to establish a power-loom textiles market either in Somanur (Coimbatore) or Palladam (Tirupur).

State Municipal Administration Minister S P Velumani and Deputy Speaker of Tamil Nadu Assembly Pollachi V Jayaraman also spoke on the occasion. About 400 stalls at the expo featured sellers from handloom, power-loom, knitted garments, readymade apparels and technical textiles sector.