NTC to push up technical textiles

National Textile Corporation (NTC) is gearing up to take advantage of the growing demand for

technical textiles within the country. Recently, it announced an investment of Rs 4.25 billion in a technical textiles joint venture to meet the fast growing demand in healthcare and infrastructure sectors. NTC, owned by the Ministry of Textiles, is said to be offering a minority stake to the proposed JV partner. The investment would be financed in proportion with the ratio of shareholding in the venture. The JV will try to market its products in both the domestic and international markets. NTC chairman and MD, K Ramachandran Pillai says this is an emerging sector and they will rope in a global firm that will provide technology to the venture and help to market the produce. While the global market for technical textiles is likely to rise to $150 billion in the coming years from around $127 billion in 2010, the application of technical textiles is very nascent in India, but the potential is enormous. Only a couple of producers currently produce technical textiles in the country.

According to Pillai the JV would set up two units, one each in the north and south. The land required for putting up the plants has already been acquired. The two proposed mills are expected to be operational in 18-24 months from the date of commissioning the project. A recent report concluded that according to government estimates, the domestic market for technical textiles is expected to register an 11 per cent growth to cross Rs 66,000 crores by 2012. The NTC has an authorized capital of Rs 5,000 crores and paid up share capital of Rs 3,062.16 crores as on December 31, 2010.