+917718880355

news

Indian technical textiles projected to grow 20pc y-o-y

YarnsandFibers News Bureau 2016-01-22 13:00:00 – Coimbatore

Under the Amended Technology Upgradation Fund Scheme, 16 percent subsidy for investment in technical textile has been announced by the government as the technical textiles industry is projected to grow at 20 percent year-on-year and the segment’s potential is largely untapped in the country, said Union Minister of State for Textiles Santosh Kumar Gangwar on Thursday.

The Centre of Excellence for Industrial Textiles/Home Textiles at PSG College of Technology would have plug-and-play facilities (focus incubation centre) for potential entrepreneurs in technical textiles, Gangwar said.

The Ministry is streamlining issues at Sardar Vallabhbhai Patel International School of Textiles and Management and has worked out a plan to strengthen the institute. It has formed a panel of guest lecturers so that students are not affected, according to Kavita Gupta, Textile Commissioner.

She said that demand for technical textiles takes a leap when the monthly per capita income was at about Rs. 11,000.

A country’s economic growth was determined by industrial growth and the Centre of Excellence here for industrial textiles would provide textile solutions required for all the industries. There would be an agreement between the Centre of Excellence and the Sardar Vallabhbhai Patel Institute so that the students of the institute could make best use of the facilities.

The Centre of Excellence at the institute has state-of-the-art facilities and production lines for wet wipes and coir mats.

Anu Garg, Joint Secretary, Ministry of Textiles, said that the Centre of Excellence was part of the Technology Mission for Technical Textiles. From domestic growth to export to import substitution, the segment had huge potential in the country. The industry should harness the facilities created through the Centres of Excellence for technical textiles.

She further said that the industry should leverage on the focus incubation facilities and the centres should continuously update, make cost effective products and develop prototypes.

0 0 vote
Article Rating
0 Comments
Inline Feedbacks
View all comments

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!

WeCreativez WhatsApp Support
Our support team is here to answer your questions via WhatsApp. Ask us anything!
? Hello