The size of India's technical textiles market has steadily increased from Rs 4200 million in 2007-08 to Rs 91236 million in 2013-14, with a CAGR of 11%.

Indian Textile Minister Panabaka Lakshmi said last week that the market size of technical textiles has steadily increased from Rs 4200 million in 2007-08 to Rs 91236 million in 2013-14, with a compound annual growth rate (CAGR) of 11%., The market size of technical textiles is expected to reach 15.8 billion rupees in 2016-17, and the annual growth rate is expected to be 20% during the 12th five-year plan.

She said that India's technology textile industry is still in its infancy, but has huge growth potential. Even the High-level Committee of Manufacturing Industry chaired by the Prime Minister has recognized the importance of the technology textile industry in the national economy.

Technical textiles are materials and products used to express technical performance and functional characteristics. They include tire cord, fabric, airbag, furniture lining, tent, fire fighting equipment, bulletproof jacket, parachute, etc.

The international exhibition was held in Mumbai, India, from March 20 to 22, 2014. The goal is to promote the development of technical textiles.

In addition, the participation and investment of the private sector is one of the main objectives of TECHNOTEX 2014. It will provide necessary impetus for the growth of domestic technical textile industry.