Centre to Issue Norms for Startups' Innovation in Technical Textiles
The government is contemplating a grant of up to INR 50 lakh for approved proposals of startups to undertake research and innovation in the technical textiles segment
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The Indian government is planning to release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment, according to recent media reports. Centre is also contemplating a grant of up to INR 50 lakh for approved proposals.
The norms will likely be unveiled in a month's time, said union textiles secretary Rachna Shah in response to a query by PTI. "We would have an evaluation committee which would decide on approving grant for that, so the grant would be up to INR 50 lakh, that is what we are looking at," she said, adding, "Hopefully within a month or so, we will be able to have the guidelines."
Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.
In a further push to the textiles industry, Shah also informed that the ministry had given clearance to two guidelines for promoting academic research as well as internship experience in the sector. According to the guidelines, around 10,000 B.Tech students will get the benefit of a paid internship programme worth INR 20,000 a month sponsored by the union textile ministry under the National Technical Textiles Mission (NTTM). Launched in 2021, the mission aims to increase the domestic market size from $40 billion to $50 billion by 2024.The new guidelines also cover the funding of upgradation and enhancement of laboratory equipment, training of lab personnel and specialised training of faculty members of the relevant departments.