Taiwanese composite and technical textile companies are exploring partnership opportunities with Indian firms across various industries to meet their growing demand.
India’s technical textile industry is expected to grow at a rate of 20 per cent annually to touch USD 30 billion over the next five years. The composite industry is also pegged at USD 2.2 billion with an expected growth of 15 per cent per annum over the next four years. “India is a very dynamic market with a lot of potential and scope for Taiwanese companies to expand their exports. 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,” Taiwan Textile Federation Overseas Market Development Specialist Sean Tsai told PTI here.