The country's technical textiles market is expected to touch Rs 86,000 crore in the next five years, doubling from the present Rs 43,000 crore, a senior industry player said.
"A boom in the technical fabrics market is expected to happen, which includes technical textiles for industries and medicinal textiles. In the next five-years, its market size would reach Rs 86,000 crore from the present Rs 43,000 crore," LNJ Denim's Chief Executive & Business Head Y C Gupta told PTI on the sidelines of a press meet here.
LNJ Denim is a division of RSWM Ltd, the flagship firm of the LNJ Bhilwara Group. RSWM, which operates from six units in Rajasthan with a turnover of Rs 1,500-crore, also owns the brand Mayur Suitings.
In view of the growing demand for technical textiles fabrics, the company has ventured into technical textiles for work-wear, Gupta said.
With an investment of over Rs 200 crore in acquisition of latest equipments from Europe, the USA and Japan and R&D, the company recently unveiled its new range of denim fabrics.
