Top textile manufacturing companies are filing applications to secure patents as they look at growing their business overseas amid low consumer sentiment and slow economy. These companies are investing in research and development (R&D) to innovate and grow their business to the next level. Patents assist in providing longevity to their innovations with fakes easily floating in the market affecting companies’ profitability. Welspun India, manufacturer of towels for Wimbledon, for instance, has applied for six patents in Europe, the US, Brazil, China, Korea and Australia for its creations such as natural finish fabric, ergonomics mattress pad and eco-dry towels that use little water during washing.

Welspun has already got patents for Hygrocotton that has a hollow core for fluffiness, temperature control and moisture wicking, from the UK and the US in the past two years. Indo Count Industries too has applied for patents mostly in the US and it has received one patent last year.

Stakeholders have realised that innovation is a key to growth and for that they must invest in R&D. Experts say companies have been trying to create unique products after the abolishment of the global textile quotas in 2005. The government’s technology upgradation fund scheme (TUFS) further helped them focus on installing new technology.

Welspun spent 5.4 per cent of its latest net profit on R&D, while RSWM—a supplier to some of the old established brands such as Raymond, Siyaram, Bombay Rayon, Arvind, Raymond UCO Denim, invested 12 per cent of its latest net profit into R&D.