Daily Current Affairs : 15-June-2024
The Ministry of Textiles has launched a new initiative called the Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) scheme. This program is designed to inspire startups in the technical textiles sector by providing financial aid. It is a part of India’s broader National Technical Textiles Mission (NTTM), which aims to make India a global leader in this rapidly growing field.
Objectives of the GREAT Scheme
The GREAT scheme offers a grant-in-aid of up to INR 50 lakhs for eligible startups working on innovative solutions in technical textiles. This funding is available for a duration of 18 months and is intended to help bring new products and technologies to the market. By supporting innovation, the scheme seeks to harness India’s talent and expertise in the textile industry and stimulate growth in the sector.
What Are Technical Textiles?
Technical textiles are specialized fabrics designed for specific applications across various industries. Unlike traditional textiles, they are primarily created for functional use rather than just for aesthetic purposes. Some of the key areas where technical textiles are used include:
- Automotive Industry: Products like seat belts and airbags are part of Mobiltech, a category of technical textiles.
- Healthcare: Textiles used for medical applications such as surgical gowns, wound dressings, and implants fall under Meditech.
- Construction: Technical textiles are used in construction for products like geotextiles, which help in soil stabilization and erosion control.
Other segments of technical textiles include Agrotech (for agriculture), Geotech (for environmental applications), and more.
National Technical Textiles Mission (NTTM)
Launched in 2020, the National Technical Textiles Mission aims to position India as a global leader in the technical textiles sector. The mission has set ambitious goals to increase the domestic market size of technical textiles from USD 40 billion to USD 50 billion by 2024.
Key goals of the mission include:
- Research and Development: Encouraging innovation in the textile industry.
- Market Development: Expanding the use of technical textiles in India and abroad.
- Education and Training: Building a skilled workforce in this sector.
- Exports: Promoting Indian-made technical textiles to international markets.
India’s Global Position in Technical Textiles
India’s technical textiles sector is currently valued at USD 40 billion, accounting for about 8% of the global market share. The aim is to increase this share to 15-20% annually to compete with major players like the USA, China, Japan, and Europe. With the support of the GREAT scheme and NTTM, India hopes to significantly enhance its presence in this fast-growing industry.
Important Points:
GREAT Scheme Overview:
- Launched by the Ministry of Textiles to support startups in the technical textiles sector.
- Provides grant-in-aid of up to INR 50 lakhs for innovation in technical textiles.
- Funding is available for a duration of 18 months.
- Aims to harness India’s talent and expertise to develop new products and technologies.
What Are Technical Textiles?:
- Specialized fabrics designed for specific functional purposes, not just aesthetic use.
- Key areas of application include:
- Automotive Industry: Products like seat belts and airbags (Mobiltech).
- Healthcare: Items such as surgical gowns and wound dressings (Meditech).
- Construction: Geotextiles for soil stabilization and erosion control.
- Other sectors include Agrotech (agriculture) and Geotech (environmental applications).
National Technical Textiles Mission (NTTM):
- Launched in 2020 to make India a global leader in technical textiles.
- Targets increasing the domestic market size from USD 40 billion to USD 50 billion by 2024.
- Focuses on:
- Research and development in technical textiles.
- Market development and expanding domestic and international use.
- Education and training to build a skilled workforce.
- Promoting exports of Indian-made technical textiles.
India’s Current and Future Position:
- India’s technical textiles sector is valued at USD 40 billion, accounting for 8% of the global market.
- The goal is to increase market share to 15-20% annually to compete with global players like the USA, China, Japan, and Europe.
Why In News
The Ministry of Textiles has approved the Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) scheme, which aims to provide financial support to startups in the technical textiles sector. This initiative is part of India’s broader efforts to foster innovation, encourage research, and drive the development of advanced textile technologies that can meet diverse industrial needs.
MCQs about GREAT Scheme
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What is the primary goal of the GREAT scheme launched by the Ministry of Textiles?
A. To provide grants for traditional textile manufacturing
B. To support startups working on innovations in technical textiles
C. To promote the export of cotton textiles
D. To increase the production of clothing
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What is the grant amount provided under the GREAT scheme?
A. Up to INR 10 lakhs
B. Up to INR 25 lakhs
C. Up to INR 50 lakhs
D. Up to INR 1 crore
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Which of the following is NOT a category of technical textiles mentioned in the essay?
A. Mobiltech
B. Meditech
C. Fashiontech
D. Geotech
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What is the target increase in India’s technical textiles market size by 2024 as per the National Technical Textiles Mission?
A. From USD 30 billion to USD 40 billion
B. From USD 40 billion to USD 50 billion
C. From USD 50 billion to USD 60 billion
D. From USD 20 billion to USD 30 billion
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