Taiwanese textile companies keen to penetrate their products in India
Mumbai: With technical textile industry of India likely to grow at a rate of 20 percent annually to touch $30 billion over the next five years and composite industry also pegged at $2.2 billion with an expected growth of 15 percent per annum over the next four years. Taiwanese composite and technical textile companies are exploring partnership opportunities with Indian firms across various industries to meet their growing demand.
Taiwanese composite and technical textile companies are keen to penetrate their products in India with the growing demand and consumption of technical textiles across multiple industries and sectors, said Taiwan Textile Federation Overseas Market Development Specialist Sean Tsai.
The Bureau of Foreign Trade (BOFT) and Taiwan Textile Federation (TTF) are forming the Taiwan Pavilion for the fourth time jointly with Taiwan Composites Association (TCA) participating in ‘Technotex 2016’, organized by the Ministry of Textiles and an industry body in Mumbai this week as
India is a very dynamic market with a lot of potential and scope for Taiwanese companies to expand their exports.
Nineteen leading Taiwanese companies producing high-end composites, innovative technical textiles, raw materials, accessories and non-woven machinery will exhibit their products at the event.
Tsai said that they expect quite a few of the exhibitors have buyers in India and some are showcasing their products for the first time and looking forward to collaborating with Indian buyers for their products.
He pointed out that Taiwan’s functional textiles market has invested a lot of resources in textile technology innovation.
The multiple industries and sectors Taiwan is focusing on include automotive, defence, police, fire departments, sports gear and apparel, rainwear, outdoor tents and canopies and protective and safety products among others.
Taiwanese exploring partnership opportunities with Indian firms