RT team
In a significant move to foster innovation and sustainability in the textiles sector, the Indian government approved grants of ₹50 lakh each for seven startups under the National Technical Textiles Mission (NTTM). This decision, announced by the Ministry of Textiles on Thursday, aims to catalyze transformative developments within the industry.
The initiative is part of a broader plan to support 150 startups, enhancing innovation in technical textiles—an area of strategic importance. Unlike typical funding schemes, the Ministry has decided not to take any share of the profits generated by these startups, providing a more conducive environment for growth.
In relaxing the royalty cap, the ministry allows these burgeoning companies to retain more profits, thereby encouraging rapid scaling and development. The approved proposals cover diverse fields such as sustainability, high-performance textiles, meditech, and smart textiles. These projects, green-lighted by an Empowered Programme Committee led by Textiles Secretary Rachna Shah, include cutting-edge applications such as braided composites for military use and nanofiber-infused textiles for energy generation.
Further supporting academic and practical innovations, the committee also sanctioned a ₹6.4 crore grant to IIT Guwahati. This funding will help develop new courses in technical textiles and upgrade lab infrastructure, particularly in the Civil Engineering Department.
Launched in 2020, the NTTM aims to position India as a global leader in technical textiles by driving research and innovation. The sector, one of the fastest-growing in the synthetics ecosystem, plays a crucial role in India’s strategy to bridge gaps in technology and industry capacity, as highlighted by industry experts and reports from KPMG. The technical textiles market, pivotal to India’s industrial strategy, is poised for rapid growth, reflecting a global trend towards specialized, high-utility fabrics.
