India's gross domestic product (GDP) has grown over 8% in the last four years and is expected to continue with opportunities in every sector. The expected growth will come in agriculture, manufacturing, and service sectors. The economy gets lift through the growing middle class, young, and educated population. These are important factors for the growth of nonwoven and technical textile industry in India. Indian government is also planning to grow the economy by recognizing four vital sectors within the textile industry for immediate attention and growth: MEDTECH, GEOTECH, AGROTECH, and PROTECH. It is hoped that India's textile industry will provide opportunities for both international and domestic players with growth rate of 15% per annum.
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|Published - Mar 2008