{"id":5472,"date":"2022-12-06T04:23:52","date_gmt":"2022-12-05T22:53:52","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=5472"},"modified":"2025-03-27T08:44:03","modified_gmt":"2025-03-27T03:14:03","slug":"technotex-2023-to-be-held-in-mumbai","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/technotex-2023-to-be-held-in-mumbai\/","title":{"rendered":"Technotex 2023 to be held in Mumbai"},"content":{"rendered":"<h2><strong>Technotex 2023:\u00a0<\/strong><\/h2>\n<p>\u00a0The event is being organized by the <strong>Ministry of Textiles<\/strong> in collaboration with Federation of Indian Chambers of Commerce Industry, under <strong>National Technical Textiles Mission (NTTM).<\/strong><\/p>\n<ul>\n<li>Technotex 2023 offers a good opportunity for Startup Entrepreneurs who represent the fastest-growing category worldwide.<\/li>\n<li>The Government is making all efforts to promote Technical Textiles and has undertaken various initiatives in this direction, such as creation of <strong>PLI scheme, <u>HSN Codes, National Technical Textiles Mission.<\/u><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><strong>What are Technical Textiles?<\/strong><\/h3>\n<ul>\n<li>Technical textiles are defined as <strong>textile materials and products used primarily for their technical performance<\/strong> and functional properties rather than their aesthetic or decorative characteristics.<\/li>\n<li>As a component or part of another product, they are used to enhance the strength, performance or other functional properties of that product.<\/li>\n<li>These products are broadly classified into <strong>12 different categories-<\/strong> Agrotech, Oekotech, Buildtech, Meditech, Geotech, Clothtech, Mobiltech, Hometech, Sportstech,Indutech, Protech, Packtech.<\/li>\n<li>Technical textile <strong>accounts for approximately 13% of India\u2019s total textile and apparel market and contributes to India\u2019s GDP at 0.7%.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><strong>National Technical Textiles Mission (NTTM)<\/strong><\/h3>\n<ul>\n<li><strong>The Ministry of Textiles <\/strong>has launched NTTM to increase the penetration level of technical textiles in India while leveraging the extraordinary growth rate of the sector.<\/li>\n<li><strong>The aim of the mission<\/strong> is to position India as a global leader in Technical Textiles.<\/li>\n<li><strong>The mission will comprise four components: <\/strong>Research, Innovation and Development; Promotion and Market Development; Export Promotion; Education, Training, Skill Development.<\/li>\n<li><strong>Implementation period<\/strong>: Four years starting from FY 2020-21 till FY 2023-24. The total outlay of the mission is INR 1480 Cr.<\/li>\n<li><strong>Target<\/strong>: Take domestic market size of technical textile sector to $ 40-50 Bn by the year 2024 with an average growth rate of 15-20% per annum.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><strong>What is HSN Code?<\/strong><\/h3>\n<ul>\n<li>HSN code stands for \u201c<strong>Harmonized System of Nomenclature\u201d.<\/strong> This system has been introduced for the systematic classification of goods all over the world.<\/li>\n<li>HSN code is a <strong>6-digit uniform code that classifies 5000+ products and is accepted worldwide.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1) When was the National Technical Textiles Mission launched?<\/strong><\/h3>\n<p>The National Technical Textiles Mission was launched in 2020 for a period of 4 years (2020-21 to 2023-24) with an outlay of Rs.1480 crores. The focus of the Mission is on usage of technical textiles in various flagship missions, programmes of the country including strategic sectors.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1880965\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technotex 2023 is an event under the National Technical Textiles Mission to promote technical textiles.<\/p>\n","protected":false},"author":5,"featured_media":5473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-5472","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/5472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=5472"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/5472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/5473"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=5472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=5472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=5472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}