You are here: Home » PTI Stories » National » News
Business Standard

Industry yet to tap potential of technical textiles sector

Business Finance

Press Trust of India  |  Coimbatore 

There is great potential for the technical textiles sector but the industry was yet to tap it, Textile Secretary Raghavendra Singh said Wednesday.

The Ministry of Textiles has prepared two reports on technical textiles, to tap the potential and also how to utilise it, he said addressing the one-day 'National Conclave on Technical Textiles' here.

Another major need was skilling the people in the sector, Singh said.

DRDO Life Sciences Director General Ajay Kumar Singh said there was also tremendous potential for technical textile in defence and agriculture sectors.

The conclave was organised by Indian Technical Textile Association, Southern India Mills Association and Indian Texpreneurs Federation, in which nearly 200 delegates participated.

Technical textiles has been identified as the thrust area for an exponential growth by the Centre and also by all the state governments considering its potential for value addition, exports, domestic demand.

According to the organisers, the central government offers 15 per cent credit linked capital investment subsidy for technical textiles machines under Amended Technology Upgradation Fund scheme apart from providing various other benefits.

The Tamil Nadu, Andhra Pradesh, Telangana and Karnataka governments have also offered special incentives for investments made in technical textiles.

The Tamil Nadu government in its recent Integrated Textile Policy has announced 6 per cent interest subsidy for technical textiles products.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 24 2019. 17:30 IST