Technical textiles body

Why is it in news?
  • The Ministry of Textiles has invited proposals to constitute a dedicated export promotion council for technical textiles.
  • Exporter associations and trade bodies registered under the Companies Act or Society Registration Act can submit proposals by December 15.
Details:
  • The Cabinet Committee on Economic Affairs had given its approval to set up a National Technical Textiles Mission.
  • The mission would have a four-year implementation period.
  • The total outlay for the mission would be ₹1,480 crore.
  • Aim of the mission: To position the country as a global leader in technical textiles.
  • The export promotion council for technical textiles is one of the components of the mission.
More about Technical Textile:
  • Indian technical textiles segment is estimated at $16 billion which is approximately 6% of the $250 billion global technical textiles market.
  • The penetration level of technical textiles in India varies between 5% and 10% against the level of 30% to 70% in developed countries.
Posted by Jawwad Kazi on 5th Dec 2020
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