Indian technical textile association - Latest News Update, Information, Photos & Videos on Indian technical textile association at Lokmat Times

Union Commerce Minister Piyush Goyal on Friday said that the time has come to target a five times increase in the export of technical textiles in three years.The minister was speaking to representatives of the Indian Technical Textile Association ( ITTA) in Delhi."Centre would support Production Linked Incentives (PLIs) for the textile sector in states supporting the development and offering affordable infrastructure for textile manufacturing like cheap land and power," said the minister.Goyal further suggested aligning with the best standards in textile manufacturing so that there is no difference in the quality of textile meant for international and domestic consumers. The Minister suggested public-private participation in the use of government funds in Research and Development in technical textiles."It may be noted that the growth of technical textiles in India has gained momentum in the past five years, currently growing at an eight per cent per annum rate. Our aim is to hasten this growth to 15-20 per cent range during next five years," he stated."Current world market is USD 250 billion (18 lakh crore) and India's share in it is USD 19 billion. India is an aspiring player with USD 40 billion in size in this market (eight per cent share). The biggest players are the USA, Western Europe, China and Japan (20-40 per cent share)," he added.The minister said that in addition to the growth in statistical terms, the growth towards high technology and indigenously innovated products will also be directed.He further mentioned that with these objectives in mind, the government has launched National Technical Textiles Mission in February 2020, with a view to making India a self-reliant, vibrant, export-oriented economy in the world."Our aim is to transform India into a major player in innovations, technology development, applications in key areas (agriculture, roads, railways, water resources, hygiene and healthcare, personal protection) with emphasis on higher education and skilled workforce," he said.Goyal informed that in January 2019, for the first time in India, 207 HSN Codes were issued for technical textiles and in less than two years time, India has become a net exporter in technical textiles.He added that the trade balance earlier used to be negative (-Rs 2,788 Crore) in 2018-19 and (-Rs 1,366 Crore in 2019-20), which has turned positive with Rs 1,767 Crore in 2020-21. During the year 2020-21, India's major share of exports is in PPEs, N-95 and surgical masks, fabric for PPEs and masks, he said.Talking about the efforts made by the government to promote technical textiles, the minister informed that 92 items have been made mandatory for use by government organisations covering agriculture/horticulture, highways, railways, water resources, medical applications and nine concerned ministries have issued instructions in this regard.Goyal further stated that BIS has issued Indian Standards for 377 items and nearly 100 are in pipeline. "Skill development in technical textiles commenced with the introduction of six new courses and another new 20 courses are under preparation," he added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Indian Technical Textile AssociationFOLLOW

Indian technical textile association, Latest News

National :It's time to target 5 times increase in export of technical textiles in 3 years: Piyush Goyal

Union Commerce Minister Piyush Goyal on Friday said that the time has come to target a five times increase in the export of technical textiles in three years. ...