FINANCIAL SERVICES & MANAGEMENT RESEARCH
Vol.1 No. 6, June, ISSN 2277 3622
GROWING IMPORTANCE OF HOMETECH TEXTILES IN INDIA
*DR. ASIYA CHAUDHARY, **MS. NAZNEEN SHAHID
Assistant Professor, Department of Commerce, Aligarh Muslim University, Aligarh, India
Research Scholar, Department of Commerce, Aligarh Muslim University, Aligarh, India
Technical textile is the term given to textile products used for industrial purposes. It gives the benefits of durability, lightweight, cost effectiveness, versatility and high strength in comparison of conventional materials, so, it is becoming an important part of our day-to-day activities. It is a growing sector and essential for economic growth, employment generation and increasing export. No doubt the government has been taking initiative; there is a need for further interventions to promote this sector. Among the various growing segments of technical textile, the Hometech industry is one of the largest segments which is growing due to the real estate boom and higher spending on the home interiors. Considering it highly skilled and technical man power and abundant availability of raw material, India can emerge as a key player in the Home-tech industry. Taking this as a background, the efforts have been made to find out the rising importance of technical textiles in hometech industry.
Keywords: Empowered Committee on Technical Textiles (ECTT), Hometech industry, Multi Fiber
Agreement (MFA), Technical textile, Technology up gradation fund scheme (TUFS).
The objectives of the paper are:
To learn about the increasing use of the technical textiles in hometech industry.
To find out the domestic consumption and market size of Hometech industry in India. The strong technical textile base is surely going to help our Home- tech industry to grow stronger and have greater prominence in the global market.
To prove that the demand for hometech textiles is big enough and is rising in India in the near future.
The textile industry occupies a unique place in India. It is a self-reliant industry and 'accounts for 14% of the total Industrial production, contributes to nearly 20% of the total exports in India. The industry is the largest foreign exchange earner, accounting for more than 5 per cent of GDP and providing direct employment to 38 million people, primarily the weaker sections; it is the second most important sector only after agriculture.'1 The phase-out of the quota regime of the Multi-Fiber Arrangement (MFA) has positively affected the entire Indian textile market at an interesting stage and beginning to make their presence felt. The textile industry is moving towards the reorientation of non-clothing applications of textiles, known as technical textiles. 'This sector is growing roughly at twice rate of textiles for clothing applications and now account for more than half of total textile production.'2 Technical textiles is now playing an important role in the construction of many household textiles, furnishing and floor coverings for domestic consumption and institutional end uses that are known as Home tech. The applications of Technical textiles in Hometech include fiberfill, carpet backing cloth, stuffed toys, blinds etc. In the global technical textile market, home-tech contributes about 7 percent of the share. 'The home textile market in India is estimated to be Rs 17,000 crore and is growing at over 9 per cent annually. The hometech and furnishings market is expected to reach Rs 26,600 crore by
2015.'3 Hometech are also a very important sector of technical textiles, as it converts house into a home. These textiles are used in home, including bedspreads, pillow covers, Table linen, Assorts Cushions. 'It has been found that there are many hometech manufacturer, supplier and exporter in India. Textile industry are...