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Piyush Goyal Calls For Promotion Of Technical Textiles Startups In India

Piyush Goyal Calls For Promotion Of Technical Textiles Startups In India
SUMMARY

Goyal also called for setting up a fund to increase the intake of scientists in TRAs to foster innovation

Govt’s Scientific Advisor Ajay Sood calls for setting up incubation centres under the ambit of TRAs to spur scientific research

Indian technical textiles industry was pegged at around $28.7 Bn by FY21, primarily driven by increased adoption and growing demand

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Union Minister Piyush Goyal has called for promoting startups in niche areas such as technical textiles. 

Technical textiles encompass products manufactured for non-aesthetic purposes and largely for their functionality. It is an overarching area that includes textiles for automotive applications, medical textiles, geotextiles, agrotextiles, and protective clothing, among others. 

Goyal made the comments during a review meeting of the Textile Research Associations (TRA) in New Delhi.

Chairing the event, the Minister called for setting up a fund to increase the intake of scientists in TRAs to foster innovation and drive science-centric sustainable growth. He also directed the Bureau of Indian Standards to provide all necessary support to modernise the labs of TRAs.

Calling for fostering partnerships between different TRAs, the Minister called for bringing synergy among the bodies involved in similar research. 

The review meeting was also attended by senior officials, including NITI Aayog member Dr VK Saraswat, principal scientific advisor to the government Ajay Sood, and representatives from eight research associations across the country.

Additionally, Sood emphasised the importance of setting up incubation centres under the ambit of TRAs to spur scientific research.

Knitting The Niche Space

The apparel and textile sector is one of the oldest industries in the country, contributing 2% to the country’s GDP. The sector employs lakhs of people and creates indirect livelihoods for millions. 

Of this, technical textile accounts for approximately 13% of the country’s total textile and apparel market and contributes 0.7% to India’s GDP. The market was especially thrust into global and national prominence after the pandemic led to a spurt in exports of protective textiles manufacturing. 

The easy availability of raw materials such as cotton and jute and a strong value chain has worked out in India’s favour. Additionally, low-cost labour and power and changing consumer trends have led to the growth of the emerging sector. 

As a result, the government has also set up five integrated textile parks across the country, dedicated solely to emerging technology. Besides, eight centres of excellence have also been set up across the country to shore up research and innovation in the field. 

But while technical textiles have shown tremendous scope, conglomerates such as Reliance, Arvind, Vardhaman, Bombay Dyeing, and others have largely dominated the space.

According to a report, the technical textiles industry pegged at around $28.7 Bn by FY21, driven largely by increased adoption due to the pandemic and increasing demand. 

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Inc42 Daily Brief

Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy

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