Cotton Would Benefit from Booming Indian Middle Class
July 17, 2009 From India’s Business Standard
The 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 the 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 says.
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 the Indian automobile sector was enticing salaried employees by giving attractive schemes to purchase new vehicles.With an increase in consumption and the use of such products,it will automatically lead to the growth of the 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.
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