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Geosynthetics market to double over 2014-2020

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Capital Market
Last Updated : May 25 2016 | 3:01 PM IST
Given the life extension benefits and durability that geosynthetics provide, they are increasingly being deployed for road projects in regions with high soil erosion and those susceptible to the vagaries of climate change. This was stated by Mr Anand Kumar, IAS, Managing Director, NHIDCL, Ministry of Road Transport and Highways while speaking at the 2nd Global Geosynthetics Summit organized by the Confederation of Indian Industry (CII) with the theme of Enhancing Applications in Infrastructure.

According to Mr Kumar, for accelerating usage of Geosynthetics in road construction, the Ministry of Textiles is incentivizing their usage by providing a subsidy. Highlighting the manifold applications of Geosynthetics, he said there is need to sensitize on the advantages of its adoption and their positive impact from a lifecycle cost - benefit perspective. Other advantages, according to him, include enhanced efficiencies, quality and a reduced carbon footprint. He emphasized on indigenous development, constant research and continuous propagation of the material for its increased usage. While pointing to the need for specific standards for use of new technologies and a quick dispute resolution mechanism, he emphasized on the need of wider consultations and continuous dialogue between all stakeholders including users, contractors, vendors and policy makers.

While enumerating the numerous benefits of the adoption of Geosynthetics in construction and infrastructure projects, Mr Punit Lalbhai, Summit Chairman and Executive Director, Arvind, said that the Indian economy is poised for great development. Geosynthetics would be the key pillar in realizing the growth. The world over, Geosynthetics has played a key role in infrastructure development in countries. Geosynthetics, he pointed, are predominantly technical textiles with multiple applications in bridges, railways and roads. He opined that the need was for India to develop its own ability and capability to make best use of the huge underlying potential. In the Indian context, it lends improved quality, faster adoption, and lower life-cycle cost for all infrastructure development. He shared that CII had created a core group of industry, scientists and academia on Geosynthetics and emphasized on creating awareness of the technology among end users.

Mr Brian Schou Nielsen, Director, Fibertex, explaining the importance of Geosynthetics for the development of Indian Infrastructure, cited the global market to be growing at 4-5% per annum with India and China growing at 10%. With climate change and carbon footprints being a big challenge for India, Geosynthetics products offer sustainable solutions. With major growth within infrastructure projects-roads, railways and dams etc, he highlighted the factors hindering the growth of Geosynthetics, including lack of specified standards and awareness.

Mr M Madhav, Prof. Emeritus, Jawaharlal Nehru Technical University, Hyderabad, sharing that Geosynthetics had been existence since 1960 in Europe and highlighted the economic viability from a life cycle cost perspective.

Mr Vikramjeet Roy, Managing Director, Maccaferri Environmental Solutions in his concluding remarks emphasized on the advantages of Geosynthetics over conventional construction methods and called for further investments.

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First Published: May 25 2016 | 2:35 PM IST

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