With the technical textiles market in India expected to reach Rs. 1,16,217 crore in 2017-2018, a seminar cum exhibition ‘Investment Opportunity in Technical Textiles’ is being organised here on December 22.

The seminar is organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the Office of the Textile Commissioner, as the Indian market of technical textiles is projected to be Rs. 92,499 crore in 2015-16, growing at a compounded annual growth rate of 11.8 per cent.

The focus of the seminar will be to attract and encourage domestic players to invest in the sector, which provides a new opportunity for Indian textile industries to have a long-term sustainable future, a release from FICCI Tamil Nadu State Council said.

The key growth drivers for the domestic market include increasing consumer profiles and income levels, growing end-user industries like automobile, healthcare and sports. The initiatives taken by the Government are also attracting investment in this sector.