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Technical Textiles Mission
Why is it in the news?
- The Cabinet Committee on Economic Affairs (CCEA) has approved the setting up of a National Technical Textiles Mission at an total outlay of ₹1,480 Crore.
- Aim: To position the country as a global leader in technical textiles and increase the use of technical textiles in the domestic market.
More in the news
- Data:
(1) Indian technical textiles segment is estimated at $16 billion which is approximately 6% of the $250 billion global technical textiles market.
(2) The penetration level of technical textiles in India varies between 5% and 10% against the level of 30% to 70% in developed countries.
- The Mission will be implemented for four years from 2020-2021 and will have four components.
- The first component:
(1) It will focus on research and development and innovation and will have an outlay of ₹1,000 crore.
(2) The research will be at both, fibre level and application-based in geo, agro, medical, sports and mobile textiles and development of bio-degradable technical textiles.
- The second component:
(1) It will be for promotion and development of market for technical textiles.
(2) The Mission will aim at taking domestic market size to $40 billion to $50 billion by 2024.
- The third component:
(1) It will focus on export promotion so that technical textile exports from the country reach from the ₹14,000 crore now to ₹20,000 crore by 2021-2022.
(2) It will ensure 10% average growth every year till the Mission ends.
- The fourth component will be on education, training and skill development.
Source
The Hindu