Government Approves ₹50 Lakh Grants for 4 Technical Textile Startups

• ByStartupStory     |    August 28, 2024

the government has approved grants for four start-ups under the ‘Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)’ scheme. Each start-up will receive approximately INR 50 lakhs to support their projects, focusing on key strategic areas such as Composites, Sustainable Textiles, and Smart Textiles.

This announcement was made during the 8th Empowered Programme Committee (EPC) meeting, chaired by the Secretary of the Ministry of Textiles. The meeting took place on Tuesday at Udyog Bhawan, New Delhi, under the National Technical Textiles Mission.

Supporting Innovation in Technical Textiles

Technical textiles are engineered fabrics designed for specific functionalities rather than aesthetics. They have broad applications across various industries, including agriculture for crop protection, shade nets, and soil stabilization, and in smart clothing with conductive properties.

The approved start-up projects align with strategic areas within the technical textiles domain, enhancing the sector’s innovation capabilities. In addition, five educational institutes, including National Institutes of Technology (NITs), have been awarded a grant of around INR 20 crores. These institutes will introduce new B.Tech courses in diverse fields of technical textiles such as Geotextiles, Geosynthetics, Composites, and Civil Structures.

Growth and Potential of Technical Textiles

India’s technical textiles market is the fifth largest globally, expanding at a compound annual growth rate (CAGR) of 8-10% over the past five years. In 2021-22, the market size reached USD 21.95 billion, with USD 19.49 billion in domestic production and USD 2.46 billion in imports. Recognizing the sector’s potential, India aims to increase the domestic market size to USD 40-50 billion by 2024. This ambitious target is supported by the National Technical Textiles Mission, which seeks an average growth rate of 15-20% through market development, international collaborations, and the Make in India initiative.

The sector demonstrated its capacity for innovation during the Covid-19 pandemic, when India swiftly scaled up the production of PPE kits and masks, underscoring its resilience and adaptability.

Past Initiatives and Future Prospects

Last October, the Ministry of Textiles approved 23 strategic research projects worth approximately INR 60 crores. These projects encompass various areas, including specialty fibers, sustainable textiles, geotextiles, mobiltech, and sports textiles.

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