According to Union Minister Santosh Kumar Gangwar, India's textile export remained flat at $40 billion in the last fiscal, as compared to $41.4 billion in 2014-15. However, an export during last fiscal was lower than the target $47.5 billion set by the government for textile and clothing. The subdued trend in export was due to recessionary trend in Europe and the US markets, experts say. About the technical textile sector, the minister said the country sees a huge growth potential in the sector. Gangwar pointed out that the growth rate of technical textile sector is expected to be much higher.

Based on past trends of growth and estimated end user segment growth, the Working Group on Technical Textiles for 12th Five Year Plan (FYP) has projected the market size to Rs 1.58 lakh crore for the year 2016-17 with a growth rate of 20 per cent. According to the minister, Technotex exemplifies the immense potential for trade and investment between India and foreign countries in technical textile sector.