Technotex 2023 to be held in Mumbai from 22nd to 24th February, 2023

Mumbai, 5 December 2022

India’s premier show on Technical Textiles – ‘Technotex 2023’ will be held in Mumbai from 22nd to 24th February 2023. The largest event of technical textile industry in India is focused on providing its attendees access and networking opportunities to meet top CEOs, manufacturers, industry peers, purchase managers and suppliers from India and around the globe. The event is being organized by the Ministry of Textiles, Government of India in collaboration with Federation of Indian Chambers of Commerce Industry, under National Technical Textiles Mission (NTTM). The Union Minister further said that the Technotex 2023 is being organised at the most opportune time when India has assumed G-20 Presidency. “The G-20 Presidency offers an exceptional opportunity for India to contribute to the global agenda on insistent matters of global importance”.

Addressing a curtain raiser event for Technotex 2023 in Mumbai today, the Union Minister of State for Textiles Darshana Jardosh said Technotex 2023 offers a good opportunity for Startup Entrepreneurs who represent the fastest-growing category worldwide. “Keeping in view the high potential of startups in the technical textile arena, Technotex 2023 will focus on discussions to empower Startup Ventures, promote knowledge exchange on best practices and develop capacities of entrepreneurial ecosystem for startups”. The curtain raiser was organized to brief the Foreign Missions in India, Media Houses and the leading Technical Textile industry about the significance of the event, the importance the ministry accords to the sector and to set the chord for meaningful deliberations in making the summit fruitful.

The Minister exhorted the industry representatives to tap the potential of the growing global technical textile market. “The robust global market is waiting for the industry as both domestic consumption and export are expected to grow rapidly. It is very important that we build a strong connect with the global industry, attract domestic and global investments as well as project India’s strengths, initiatives and facilities”.

The Minister of State for Textiles informed that the Government is making all efforts to promote Technical Textiles and has undertaken various initiatives in this direction, such as creation of PLI scheme, HSN Codes, National Technical Textiles Mission. “The end-usage of Technical Textiles products covers a wide array of industries, thereby presenting plethora of opportunities as a high value sector in India”.

Textiles Minister for Government of Maharashtra Chandrakant Patil said that the Technical Textile sector is one of the key constituents of the Indian economy and a niche sunrise sector, aligning with the government’s focus on Aatma Nirbhar Bharat. He mentioned that Maharashtra’s Textile Policy is aimed at generating 10 lakh new jobs; attracting investments worth Rs. 36,000 crores, and providing many benefits including competitive power tariff and increased capital subsidy.

Comparing the penetration of Technical Textile in Indian textile industries with that in global markets, Joint Secretary, Ministry of Textiles, Govt. of India, Rajeev Saxena said that at present Technical Textile penetration is only 8-9% of overall Textile sector, whereas in developed countries it goes up to 65% or so. The Joint Secretary further said that the Textiles Ministry is encouraging educational institutions to start courses and internships on technical textiles.

Textiles Commissioner Roop Rashi said that there is a large demand gap as the consumption of technical textiles in India is low as compared to developed nations. “In India, the consumption is still only at 5%-10% against 30%-70% in some of the advanced countries, which offers a great opportunity. Technical textile accounts for approximately 13% of India’s total textile and apparel market and contributes 0.7% to India’s GDP.”

The Textiles Commissioner said that the Ministry cleared 74 Strategic Projects worth Rs. 231.52 Crores in the areas of Specialty Fibres, Composites, Sustainable Textiles, Mobiltech, Sportech and Geotech segment under NTTM. “A total 8 Centres of Excellence and 10 Focus Incubation Centres have been set up under Technology Mission on Technical Textiles, with the objective of removing the impediments hampering the production of technical textiles in the country, to meet growing demand in the domestic and export market”.

She said that the vision of Technotex 2023 is to look at India at 2047, how we can grow from today to be the world leaders in all the segments, if possible, otherwise at least in some of niche segments in 25 years from now. “We look forward to more than 15,000 business visitors in Feb 2023. We also look at a huge interaction with user industries within the Government of India as well as abroad, including all diplomats and CEOss and so on”.

Vice Chairman, Indian Technical Textile Association (ITTA), Avinash Misar; and Chairman & Mentor, FICCI Technotex SME Organizing Committee & Chairman, Mohan Kavrie were also present, besides various industry leaders.

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(Source: FICCI) | PIB MUMBAI | Dheep / Prarthna / Darshana