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STARTUPS

GOI Approved Four Technical Textile Startups with Grant of Approx Rs 50 Lakhs Each

The selected startup projects are concentrated on core strategic areas of Composites, Sustainable Textiles, and Smart Textiles.

The government of India (GOI) has approved the ‘Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles’ (GREAT) scheme, which allows four startups in technical textiles to each receive a grant of approximately INR 50 lakhs.

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

The selected startup projects are concentrated on core strategic areas of Composites, Sustainable Textiles, and Smart Textiles. Approved educational Institutes are looking to introduce new B.Tech courses in various fields and applications of technical textiles, including Geotextiles, geosynthetics, Composites, Civil Structures, etc.

In addition, with a grant of roughly INR 20 crores, five educational institutes, including the National Institute of Technology (NITs), will launch new technical textiles courses. These courses will encompass various applications, including geotextiles, geosynthetics, composites, and civil structures.

In October last year, the Ministry of Textiles approved 23 strategic research projects worth around INR 60 crores, covering speciality fibres, sustainable textiles, geotextiles, mobile tech, and sports textiles.

Technical textiles are materials designed for their functional properties rather than aesthetics and are used in various industries. For example, they are utilised in agriculture for crop protection, shade nets, soil stabilisation, and fabric with conductive properties, which are used in wearables and smart clothing.

India’s technical textiles market is the fifth largest globally, with an 8-10% compound annual growth rate (CAGR) expansion rate 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.

Acknowledging the potential, India has established a National Technical Textiles Mission to achieve an average growth rate of 15-20%. The mission aims to increase the domestic market size of technical textiles to USD 40-50 billion by 2024 through market development, international collaborations, and the Make in India initiative.

The Technical Textiles sector gained increased attention during the Covid-19 crisis, as India rapidly scaled up production of Personal Protective Equipment (PPE) kits and masks, demonstrating its capacity to innovate even in challenging times.

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