Entrepreneurs, leaders of textile industry and experts from Confederation of Indian Industry (CII) have emphasised on transforming the conventional sector into the technical textile industry.
They claimed that because there were so many amazing prospects in this business, it might be the answer to Punjab’s declining economy. Experts noted at a two-day conference in Ludhiana that the region’s industry had a great deal of potential to contribute to the rapidly expanding technical textile sector.
Stakeholders and experts agreed that the local skilled labour force and the infrastructure already in place could support the transition to the technical textile industry. They did, however, highlight a few difficulties with the raw material. Technical textiles are designed goods that serve a purpose other than meeting basic clothing requirements.
Chairperson of Punjab Chapter of CII, PJ Singh, said India was now emerging as a key player in the dynamic field of technical textile. “The technical textile market size is projected to reach a staggering $309 billion in 2047. Though a few big players are manufacturing the raw material, a majority of the industry is dependent on its import,” he added.
