Impetus to local manufacturing and discipline in product standards crucial to boost global demand for Indian medical textiles
New investments in the textile segment will provide much aid and encouragement to local manufacturers, enabling them to become “Aatmanirbhar” (Self-reliant) and produce quality medical textile products to cater to both domestic and international markets writes Raj Manek.
Known as India’s sunrise sector, the Indian
technical textile industry has witnessed incredible growth over the years
emerging as the fastest growing sub-segment, thanks to its flourishing raw
material market and a multitudinous-yet affordable labour force.
While the industry serves a variety of
segment with its versatile application areas, medical textiles have witnessed
the strongest growth in the recent period. During the critical stages of
lockdown when global trade came to a grinding halt, the medical textile showed
its utmost resilience and provided a much needed boost to the economy by
emerging from primary importer of PPE kits to becoming its “second largest
producer” in just two months. By the end of 2020, India had exported over 20
million PPE kits and more than 40 million N-95 respirators around the globe,
including countries such as US, the UK, UAE, Slovenia and Senegal.*
“This incredible milestone epitomises
India’s local manufacturing strength and foreshadows what the industry can
achieve in the coming years,” shares, Raj Manek, Managing Director of Messe
Frankfurt India, and the organiser of leading industry trade fair – Techtexil India.
New schemes and policies to uplift the
textile segment will provide much aid and encouragement to local manufacturers,
enabling them to become “Aatmanirbhar” (Self-reliant) and produce quality
medical textile products to cater to both domestic and international markets.
While technical textile is one of India’s
most prominent segments, its consumption rate is pegged only at 5-10 per cent
as compared to 30-70 per cent consumption in more developed countries.
Efficient channelling of resources and improvement in local supply chain is
therefore crucial to produce and sell goods at reasonable rates, and gain a
competitive advantage over other foreign players in the market.
An estimated outlay of INR 1,480 crore (USD
211.76 million) proposed under National Technical Textiles Mission is set to
give a fillip to key application segments, including medical textiles. Indian
Prime Minister, Narendra Modi in his recent address to textile industry
stakeholders has also urged micro, small and medium enterprises to focus on
adopting global standards, so as to partner with global sourcing giants and tap
into international markets.
As the Indian technical textile segment
continues to gain more attention, this year’s edition of Techtexil India will
reunite stakeholders across the twelve application areas to showcase their
innovations and discuss new pathways for the future.
The global medical textile market valued
USD 13 billion in 2020 is expected to reach USD 17 billion by 2026 at a CAGR of
4 per cent. Going forward, the development of local supply chain coupled with
disciplined product standards will enable India to emerge as a leading exporter
of medical textile products in the coming years.
Raj Manek is the
Managing Director of Messe Frankfurt India.