Technical Textiles: The Opportunities for Indian Textiles Industry in Turbulent Times
MANAGING IN TURBULENT TIMES: BUSINESS ECOSYSTEM & MACRO PERSPECTIVES, pp. 494-509, Bindi Mehta, Nityesh Bhatt, eds., Excel India Publishers, New Delhi, January 2011
18 Pages Posted: 23 Feb 2011 Last revised: 18 Jun 2012
Date Written: January 31, 2011
The technical textiles domain with its classifications into twelve broad segments leaves a great space where Indian industry has the large scope to deliver good results. It can also set an example in the times of turbulences that may occur anytime in today's changing business environment. The global demand for conventional textiles and clothing in which India possessed historically competitive advantages has fallen owing to the stiff competition due to new world economic order as a result of the phasing out of quotas. If we delve deep into the current turmoil in the textiles sector we may comprehend the loose ends that could be fixed with the improved infrastructure, product and market diversification and innovations in the area of technical textiles and investments thereof. It is in this context this paper first describes turbulent times with reference to global slowdown deeply affecting the Indian textiles and clothing industry and then salient features of technical textiles with its growing global as well as the domestic market size. Further, an attempt has been made to underscores the sector specific opportunities and the initiatives being taken by the government, and industry to strengthen the county's inherent competitive advantages in manufacturing and exporting textiles and clothing so that the diversification and innovations in the area of technical textiles may result in quantum leaps in production and export growths and rejuvenate the textiles sector and country may become the world leader in this segment of textiles as well.
Keywords: Technical Textiles, Competitive Advantage, Global Slowdown, Technology Upgradation Fund Scheme (TUFS), National Technology Mission on Technical Textiles, Multifibre Arrangements
JEL Classification: F1, F2, F4, L1, L2, L67, O3
Suggested Citation: Suggested Citation