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The government has allotted Rs 700 crore in the next five year plan for the development of technical textiles.
In 2012-13, technical textiles reached Rs 7.48 lakh crore at an annual growth rate of 3.5%.
"Even the high level committee on manufacturing, chaired by the Prime Minister, recognised the importance of technical textiles sector in the national economy, as well as the potential for increasing production and exports in this sector," said Panabaaka Lakshmi, minister of state for textiles at curtain raiser of Technotex 2014.
Employment in technical textile industry industry has been estimated to grow from 8.8 lakh in 2009-10 to 11 lakh in 2010-11.
Based on the projected growth of this sector, employment in technical textiles is estimated to grow at CAGR of 13% to 26 lakh by 2016-17.
