Technical textiles has been identified as the thrust area for an exponential growth by the Government of India and also by all the State Governments considering its potential for value addition, exports, domestic demand, etc.
Technical textiles has been identified as the thrust area for an exponential growth by the Government of India and also by all the State Governments considering its potential for value addition, exports, domestic demand, etc. The Government of India launched a Technology Mission on Technical Textiles during August 2011 and created eight Centres of Excellence (CoEs) across the country, out of which two COEs are located at Coimbatore (SITRA and PSG College of Technology).
The Government of India 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 Governments of Tamil Nadu, Andhra Pradesh, Telangana and Karnataka in South India have also offered special incentives for the investments made in technical textiles. The Government of Tamilnadu in its recent integrated textile policy has announced 6 per cent interest subsidy for technical textiles products.
Dr K S Sundararaman, Chairman, Indian Technical Textiles Association (ITTA), has stated that ITTA would organise â€œNational Investorsâ€™ Conclave on Technical Textilesâ€ jointly with SIMA and ITF on April 24, 2019 at The Residency Towers, Coimbatore. Unlike the other seminars and conferences, the one-day conclave would give more inputs to understand the potential areas of investments in technical textiles. The conclave would also give necessary inputs to plan for value addition in the existing products apart from planning diversification.
Raghavendra Singh, IAS, Secretary, Ministry of Textiles, Government of India has given his consent to be the Chief Guest and formally inaugurate the Conclave. A few eminent speakers from abroad, leading consultants, experts from DRDO, CoEs and TRAs, technical textile machinery manufacturers would make the presentation and interact with the delegates during the event.
ITTA Chief has stated that it is high time for the existing entrepreneurs as well as the new entrepreneurs to take advantage of the State and central schemes relating to technical textiles, techno-commercial advices provided by ITTA and CoEs and plan for huge investments in technical textiles. He has invited all such entrepreneurs to attend the conclave and plan their investments.