According to a report by Rubix Data Sciences, the technical textiles market in India, valued at USD 29 billion in 2023-24, is set for significant growth. This expansion is driven by the Indian Government’s Budget 2025 provisions, which include an increase in Basic Customs Duty (BCD) on knitted fabrics and tax breaks for textile machinery. These measures are expected to bolster domestic manufacturing, reduce dependency on imports, and protect local producers from foreign competition.
The Indian technical textiles market, currently the fifth largest in the world, contributes to 15% of the overall textiles and apparel market in the country. Government initiatives like the Production-Linked Incentive (PLI) scheme, PM MITRA parks, and quality control mandates are pivotal in positioning India as a global leader in technical textiles.
Over the past five years, the technical textiles sector in India has been growing at an annual rate of 8-10%, highlighting its rapid development. The National Technical Textiles Mission, launched in 2020-21 and extended to 2025-26 with a financial outlay of Rs 1,480 crore, aims to boost exports to USD 10 billion. Currently, India’s technical textile exports range between USD 2 billion to USD 3 billion.
The Rubix report also emphasizes that since 2020-21, India has been a net exporter of technical textiles. Between 2018-19 and 2023-24, exports have grown at a 5.3% compound annual growth rate (CAGR), while imports have declined at a 1.7% CAGR.
These developments, combined with the government’s continued focus on this high-growth sector, are expected to significantly boost India’s position in the global technical textiles market.
