|
| Explosion of middle class population,impetus to Tech.Textiles |
| Press Trust of India / Coimbatore Jul 08, 2009, 13:53 IST |
|
Technical Textiles sector is poised for growth with rise in salary levels in developing nations, particularly India, where the middle class population is expected to reach half a billion by 2030, an expert has said.
Middle income population being an important customer for technical textiles sector,the sixth pay commission implemented by Government has raised payscale for employees and has provided necessary impetus for consumers to start spending, according to Seshadri Ramkumar,Texas Technical University, USA.
Prompted by this, industries have played their role by creating enticing marketing schemes to boost consumption of disposable and durable goods,where technical textiles were also used, Ramkumar told PTI.
Technical textiles are materials and products used primarily for their technical and functional properties and not for use as apparel.
Citing an example, he said Indian automobile sector was enticing salaried employees by giving attractive schemes to purchase new vehicles.With increase in consumption and use of such products,it will automatically lead to growth of technical textile sector in India, he said.
Looking at the growth in population, even though China's population was ahead of India by 200 million as of today, the rate of population growth will be higher in India, which was well suited for growth of technical textile industry,he said.
Due to the population growth, the need and the consumption of baby care products such as diapers and wipes would be on the rise, Ramkumar said.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
