India's technical textile exports grew 28.4% in 2021-22: Govt to Lok Sabha

Category: General

Country: India

In view to boosting the technical textiles sector in the country, the government has set up the National Technical Textiles Mission (NTTM) for a period of 4 years with an outlay of Rs 1,480 crores

ANI  General News 
Last Updated at February 9, 2023 07:26 IST

India's exports of 207 technical textile products have grown from USD 2.21 billion in 2020-21 to USD 2.85 billion in 2021-22, registering a growth rate of 28.4 per cent, Union Minister of State for Textiles Darshana Jardosh told Lok Sabha on Wednesday.

"India's exports of 207 Technical Textile products have grown from USD 2.21 billion in 2020-21 to USD 2.85 billion in 2021-22, registering a growth rate of 28.4 per cent," Jardosh said in a written reply to the Lower House.

"In view to boosting the technical textiles sector in the country, the government has set up the National Technical Textiles Mission (NTTM) for a period of 4 years with an outlay of Rs 1,480 crores," Jardosh further said.

She also said that the Mission aims at achieving an average growth rate of 15-20 per cent per annum, taking the domestic market size to 40-50 billion USD by the year 2024.

Meanwhile, the government has issued general guidelines for enabling of academic institutes in technical textiles education in India for private and public institutes.

"Apart from this, the government has approved the Grant for Internship Support in Technical Textiles (GIST) with the objective of supporting academic-industry linkages in the domain of technical textiles," the minister also stated, adding that as per the guidelines, financial assistance upto Rs 20,000 per student per month (for a maximum period of 2 months) would be given to empanelled companies on a reimbursement basis, for onward release to eligible students.

Courtesy: https://www.business-standard.com/article/economy-policy/india-s-technical-textile-exports-grew-28-4-in-2021-22-govt-to-lok-sabha-123020900057_1.html