Business

Ministry seeks proposals for technical textiles body

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, the ministry said.

The Cabinet Committee on Economic Affairs, in its meeting held in February this year, gave its approval to set up a National Technical Textiles Mission, with a four-year implementation period and a total outlay of ₹1,480 crore, 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. K.S. Sundararaman, chairman of Indian Technical Textile Association, said annual technical textile exports are now worth ₹14,000 crore. The government is looking at explosive growth in the sector. Most of the exporters of technical textiles currently go through export promotion councils for other products. A dedicated council for this sector will be beneficial, he added.

Confederation of Indian Textile Industry’s chairman T. Rajkumar said that the government had set a target market size of $350 billion for technical textiles by 2024-2025 from the current $167 billion for the textile and clothing sector.

The decision to set up a dedicated export promotion council is a step in the right direction. he added.

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Printable version | May 18, 2021 2:38:11 PM | https://www.thehindu.com/business/ministry-seeks-proposals-for-technical-textiles-body/article33252998.ece

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