US imports of Indian technical textiles abysmally low – FICCI.

A recent study commissioned by the Federation of Indian Chambers of Commerce and Industry (FICCI) points out that India’s share in US imports of technical textiles and nonwoven fabrics is abysmally low.

FICCI has raised concerns over the fact that India’s market share in US imports of technical textile fabrics stands at just 2.9 percent and that of nonwoven fabrics make up for an even lower 1.2 percent in 2009.

In comparison, China’s share stands at 15 percent in exports of technical textile fabrics and 12 percent in nonwoven fabrics in the same period. FICCI says that a R&D textile policy needs to be formulated to correct this anomaly.

According to FICCI, the current share of Indian advance technology-based and high value-added textile goods in global market stands at just 2 percent and the policy should target a market share of 7 percent.

The apex body also suggests that the policy should offer a special-focus on eco-friendly textiles that would help in reducing carbon footprint.

FICCI has recommended setting up a National Textiles Research Council with a capital outlay of Rs. 300 million and a yearly grant of Rs. 100 million.


Source : Fibre2 Fashion