Govt nod to Technical Textile Mission with Rs 1,480-crore outlay

Indian technical textiles segment is estimated at $ 16 billion or 6% of the $ 250-billion global market

The Cabinet on Wednesday approved the Rs 1,480-crore National Technical Textiles Mission set to run for the next four years. Technical textiles are a futuristic segment of textiles used for a vast array of applications such as agriculture, roads, railway tracks, bullet and fire-proof jackets and high altitude combat gear etc. 

Indian technical textiles segment is estimated at $ 16 billion or 6 per cent of the $ 250-billion global market. 

According to the government, the penetrat-ion level of technical textiles is low in India, varying between 5 and 10 per cent against the level of 30-70 per cent in developed countries. The mission targets an average growth rate of 15-20 per cent annually and domestic market size of $ 40-50 billion by 2024.