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Growth Expected In Indian Automotive Market



Published September 18, 2007
Related Searches: Automotive jute
The market size for automotive textiles will double from Rs 1614 crore to more than Rs 3200 crore by 2011-12, according to Shashi Singh, Joint Indian Textile Commissioner. Speaking at a recent conference in Mumbai on automotive textiles organized jointly by FICCI (Federation of Indian Chamber of Commerce and Industry) and SASMIRA, Ms. Singh referred to India as an emerging supplier to European and U.S. markets that must adopt global regulatory norms on air bags, seat belts and other automotive components. She also pointed out the importance of fire resistant, anti-odor and anti-bacterial features that are being demanded in matured markets. Maganlal Doshi, president of SASMIRA, suggested that the Bureau of Indian Standards should develop specifications for functional textiles as automotive manufacturers in the country work on their own specifications.

According to Ms. Singh, worldwide demand for technical textiles in the transport sector is expected to reach $29 billion by 2010 based on 13% CAGR projection during 2005-2010. The potential for growth in the automotive textile business may be gauged from the explosive expansion projected for car production, with Asia-Pacific as the growth driver.

Vipin Bhargava of India-based Reliance Industries estimated at the conference that 65.1 million cars are produced each year globally. He said this figure is expected to grow to 75.7 million by 2011 at a CAGR of 3.6%, with the Asia-Pacific region enjoying a large. A Coimbatore-based textile consultant told participants at the conference that natural products such as banana and jute fibers have potential for extensive use in the production of automotive textile fabrics for interiors and carpets.