Textiles

Union Minister Piyush Goyal on Friday said India aspires to take its technical textiles market to USD 40 billion in the next 4-5 years from USD 22 billion at present. In a virtual address at a conference on geo textiles, the Textiles Minister also expressed hope to build a domestic technical textiles market of up to USD 300 billion by 2047. Currently, India is the fifth largest producer of technical textiles in the world with a market size of nearly USD 22 billion. To achieve these objectives, Goyal underlined the need to focus on improving productivity at manufacturing and supply-chain levels. Technical textiles are functional fabrics that have applications across various industries including automobiles, civil engineering and construction, agriculture, healthcare, industrial safety, personal protection etc. "We will have to introduce economies of scale and also have to work on research and development to innovate and come up with attractive products which are in the future going

The government will soon release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment and is contemplating a grant of up to Rs 50 lakh for approved proposals, a top official said on Thursday. Responding to a query by PTI, Secretary in the Textiles Ministry Rachna Shah said that she is hopeful that the norms will be unveiled in a month's time. "We would have an evaluation committee which would decide on approving grant for that, so the grant would be up to Rs 50 lakh, that is what we are looking at," Shah said. Hopefully within a month or so, we will be able to have the guidelines, she added. Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.

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Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said

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The textiles minister also said the exports would get a boost as the sector would get zero duty access in the UAE and Australia.

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The projects were approved at a meeting chaired by Textiles Minister Piyush Goyal

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