Context:
Union Government has approved 4 Start-Ups in the field of Technical Textiles under GREAT Scheme.
GREAT (Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles) scheme:
- Aim – To foster entrepreneurship and innovation in the technical textiles sector.
- Part of – National Technical Textiles Mission (NTTM)
- Its primary goal is to promote and enhance the production, usage, and export of Technical Textiles within the country.
- Nodal Ministry – Ministry of Textiles.
- Funding and Duration –
- Startups and innovators in the technical textiles sector can receive a grant-in-aid of up to 50 Lakhs; The funding period extends up to 18 months.
- Additionally, incubators supporting these startups receive an additional 10% funding.
- Eligibility Criteria –
- Early-stage startups operating in the technical textiles domain.
- Individual researchers and research groups affiliated with recognized institutions.
- Aspiring entrepreneurs with innovative ideas related to technical textiles.
- Incubators – The scheme collaborates with prestigious institutions such as IITs, NITs, Textiles Research Associations, and Centres of Excellence.
- Application Areas – Agro-textiles, Building-textiles, Cloth-textiles, Geotextiles, Home-textiles, Industrial-textiles etc.
- Monitoring Body – Steering Committee for Growth and Development of Technical Textiles (SCGDTT) oversees the implementation and progress of technical textiles initiatives.
Other Related Schemes:
- Scheme for Growth and Development of Technical Textiles (SGDTT)
- Technology Upgradation Fund Scheme (TUFS).
- IndiaTex
- RoSCTL Scheme
Status of Technical Textiles in India:
- India’s technical textiles market ranks 5th globally.
- Over the past 5 years, it has expanded at a CAGR of 8-10%.
- The industry is projected to reach a market size of $309 billion by 2047
Source: PIB
Previous year question
Consider the following statements:
1. The value of Indo-Sri Lanka trade has consistently increased in the last decade.
2. “Textile and textile articles” constitute an important item of trade between India and Bangladesh.
3. In the last five years, Nepal has been the largest trading partner of India in South Asia.
Which of the statements given above is/are correct?
[UPSC Civil Services Exam – 2020 Prelims]
(a) 1 and 2 only
(b) 2 only
(c) 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
Statement 3 is incorrect. The correct order of India’s largest trading partners in South Asia is Bangladesh, Nepal, Sri Lanka, Pakistan, Bhutan, Afghanistan, and the Maldives.
Statement 2 is incorrect. Cotton is the largest export item from India to Bangladesh, constituting approximately one-fifth of India’s supplies to Bangladesh.