A seminar cum exhibition 'Investment Opportunity in Technical Textiles will get underway in Coimbatore on December 22 organized by Federation of Indian Chambers of Commerce and Industry (FCCI) in association with the Office of Textile Commissioner.

The one day seminar is organized keeping in mind that technical textiles market in India is expected to touch Rs.1,16217 crore in 2017-18.

The Indian market of technical textiles is projected to be Rs 92,499 crore in 2015-16, growing at a Compounded Annual Growth Rate of 11.8 per cent.

A release from FICCI Tamil Nadu State Council said the focus of the seminar will be to attract and encourage domestic players to invest in the sector, which provide a new opportunity to the Indian Textile Industry to have long term sustainable future.

The initiatives taken by the Government are also attracting investment in this sector.

Key growth drivers for the domestic technical textile market include increasing consumer profiles and income levels, growing end user industries like automobile, healthcare and sports.