Technical textile is growing sector and is rapidly attracting major domestic players. Latest example is the S Kumars Nationwide Ltd (SKNL), who is plannig to exploit this industry by setting up an exclusive technical textile facility in the country.
Industry sources believe that the company would need to invest a minimum of Rs150 crore to establish the manufacturing unit of the technical textile.
Sources confirmed to Fibre2fashion that the Board of Directors of the company, having an annual turnover of 1,200 crore, will soon meet to discuss the pros and cons of the new project. However, SKNL has already decided upon two categories that are ranking high in the technical textile segment.
Experts believe that technical textile industry in India promises to have a bright future and this is unquestioningly the right time for leading companies and industries to switch on to this upcoming trend. Not only will this increase the value of the products but will also generate lucrative profits for involved companies.
The average global trade in this segment reaches US $50 billion of which India contributes a very small percentage. Biggies like Reliance and Grasim are already fielding well in the technical textile sector and it can only be expected that more and more companies would follow their footsteps.
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