Technical textiles sector in the country is expected to clock a 20 per cent year-on-year growth in the 12th plan period (2012-17), a top textile ministry official said here today.

With a market size of Rs 60,000 crore, the sector has recorded 11 to 12 per cent growth in the last five years and with domestic demand growing at a robust pace, it should touch 18 to 20 per cent in the 12th plan period, said Sujit Gulati, Joint Secretary, Textile Ministry, on the sidelines of opening of the regional office of the Indian Technical Textile Association (ITTA) here.

Textile Commissioner A B Joshi, who was also present, said about 30 per cent of the requirement for technical textiles in India is now met through imports adding, around 3,000 intentions for investment in the sector have been registered so far.

While technical textiles accounted for about 60 per cent of overall textile industry in the world, it was just nine to 10 per cent in India, Gulati added.

Asked whether initial investment in R&D was seen as a stumbling block for new ventures in India, Gulati said several large textile companies have either already forayed or are actively considering an entry into technical textiles.

The market for technical textiles is expected to cross Rs 1.5 lakh crore by 2016-17, he said.

As far as small and medium enterprises are concerned, there was always Government support by way of financial subsidy and help from Centres of Excellence.

Moreover, the Government was taking efforts to encourage setting up facilities to make raw material and also building heavy machinery needed in the sector, which would bring down the cost of inputs, he said.

The ministry is trying to attract investments in speciality fibres such as carbon fibre and is even prepared to offer financial assistance for it, the officials said, adding, allocation for technical textiles under the Technology Upgradation Fund scheme has been fully utilised.

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