Gujaratstartups: The Gujarat government is planning to set up separate industrial parks for spinning cotton, state industries minister Saurabh Patel said Saturday.
He was speaking here at a seminar on the current status and scope of future development and investment opportunities in the technical textile sector in Gujarat.
The seminar was organised by the Gujarat government and the Confederation of Indian Industry (CII) with the support of the Industrial Extension Bureau (iNDEXTb), Ahmedabad Textile Industries Research Association (ATIRA) and Man-Made Textile Research Association (MANTRA).
It was the first in a series of seminars that will span across November and December in a run up to the Vibrant Gujarat Global Investors Summit-2011 Jan 12-13.
"The objective of this seminar is to bring together relevant government agencies, private sector players and external consultants and advisors to deliberate and gauge the investment opportunities in the Technical Textiles sector in the state," an official spokesperson said.
Patel said technical textiles are the emerging area for investment in India, given that its potential is still untapped."
India’s technical textile industry will by 2010 be worth $12-15 billion – 12 percent of the global value. Consumption of non-wovens and technical textiles in India is also expected to grow by an additional 150 percent in 2012, in tune with the country’s GDP growth.
"In the present scenario, technical textiles have been identified as a great area of potential for upgrading the Indian textile industry," he added.
Top officials of a host of international and national companies like Gherzi Eastern Ltd, DuPont, Lenzing Fibres, Arvind Mills discussed the growth and opportunities in technical textiles at the seminar.
Gujarat’s textile industry’s share in the state’s industrial production is six percent. It is the largest producer and exporter of cotton and is the third largest denim producer in the world, contributing to 12 percent of India’s textile exports.