Syllabus Section: Economy

 

Why in News?

• The government has invited proposals from exporter associations and trade bodies for setting up a dedicated Export Promotion Council for Technical Textiles.

Background of Technical Textiles:

• The Cabinet Committee on Economic Affairs, in its meeting held on 26th February,2020, gave its approval to set up a National Technical Textiles Mission with a total outlay of Rs. 1480 Crore, with a view to position the country as a global leader in Technical Textiles.

• The Mission would have a four year implementation period from FY 2020-21 to 2023-24.

• Constitution of an Export Promotion Council for Technical Textiles is part of one of the components of the National Technical Textiles Mission.

• Technical Textiles are futuristic and nice segment of textiles, which are used for various applications ranging from agriculture, roads, railway tracks, sportswear, health on one end to bullet proof jackets, fire proof jackets, high altitude combat gear and space applications on other end of spectrum.

• Technical textiles are textiles materials and products manufactured primarily for technical performance and functional properties rather than aesthetic characteristics.

• Technical Textiles products are divided into 12 broad categories (Agrotech, Buildtech, Clothtech, Geotech, Hometech, Indutech, Mobiltech, Meditech, Protech, Sportstech, Oekotech, Packtech) depending upon their application areas.

• India shares nearly 6% of world market size of 250 Billion USD. However, the annual average growth of the segment is 12%, as compared to 4% world average growth.

• Penetration level of technical textiles is low in India at 5-10%, against 30-70% in advanced countries. The Mission aims at improving penetration level of technical textiles in the country.

 

Source: PIB