Tamil Nadu is positioning itself as a prime destination for significant investments from Taiwanese companies in the burgeoning technical textiles sector, said V Arun Roy, Secretary of Industries, Investment Promotion and Commerce for the state of Tamil Nadu at the Tamil Nadu – Taiwan Technical Textiles Partnership Summit in Coimbatore.
At the seminar organized by the Confederation of Indian Industry (CII), the Tiruppur Exporters Association, and the Tamil Nadu government, Roy highlighted the state's strong existing ties with Taiwan. He noted, Taiwanese firms have already made substantial investments in Tamil Nadu's electronics and footwear industries. Since 2021, the Tamil Nadu Government and Taiwanese companies have inked 21 MoUs, representing a total investment of $1.4 billion in the state.
Roy emphasized, technical textiles represent the ‘next potential sector’ for such collaborations. He specifically pointed to the PM MITRA Park at Virudhunagar, which will feature dedicated zones and plug-and-play facilities for technical textiles. He urged both Indian and Taiwanese companies to consider investing in this park.
The region's existing textile strength provides a solid foundation. Garment exports from the Tiruppur and Coimbatore districts grew by 20 per cent in FY24-25, reaching approximately Rs 45,000 crore. This growth momentum continued into the first quarter of the current fiscal year, registering a 12 per cent increase, with exports projected to rise by 15 per cent this year. However, the needs to tap opportunities in technical textiles and man-made fibers (MMF) sectors as these offer more opportunities in value addition, Roy emphasized.
Maheshwari Ravikumar, Director – Handlooms. Tamil Nadu, outlined several government initiatives to boost the sector. The Tamil Nadu Government is in the process of issuing an order to offer a capital subsidy for the processing sector, she stated. Additionally, the state plans to introduce technical textile courses in polytechnics and industrial training institutes. The government is also currently reviewing recommendations from a report submitted by Wazir Advisors aimed at promoting sportswear and athleisure production within the state.
The Summit facilitated over 55 one-on-one business meetings between Indian and Taiwanese companies in Coimbatore on Monday. These direct interactions are expected to pave the way for future partnerships and investments in this high-growth sector.
