Capital subsidy for investment in technical textiles

He further added that the government has introduced the technology mission of technical textiles with an outlay of Rs 200 crore providing Rs 25 crore for each centre of excellence. Technical textiles industry is projected to grow at 20 per cent year-on-year and the segment's potential is largely untapped in the country.

The research activities undertaken by the textile research associations must reach all stakeholders of the industry. PSG College of Technology's Centre of Excellence (COE) for industrial and home textiles would have focused incubation centre for potential entrepreneurs in technical textiles, he said.

Speaking at the inauguration of the diamond jubilee celebrations of SITRA, textile commissioner Kavita Gupta said SITRA is working with Defence Research and Development Organisation (DRDO) and Indian Space Research Organisation (ISRO) to come up with improved products in technical textiles. She said spinning mills are encouraged to get into technical textiles to enjoy more opportunities.

The notification has already been issued and the guidelines on implementation of the ATUFS would be in place in 10 to 15 days, said Kavita Gupta.

Joint secretary, Ministry of Textiles, Anu Garg, said the ministry has come out with special schemes to strengthen the technical textiles segment. She also said that the ministry is in the process of setting up standards for textile products in a phased manner to get HSN Code, which is expected in four or five months. (NA)

Fibre2fashion News Desk - India