Technotex 2023 to be held in Mumbai
26-08-2023
10:57 AM
1 min read
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Overview:
India's premier show on Technical Textiles - ‘Technotex 2023’ will be held in Mumbai from 22nd to 24th February 2023.
Technotex 2023:
The event is being organized by the Ministry of Textiles in collaboration with Federation of Indian Chambers of Commerce Industry, under National Technical Textiles Mission (NTTM).
- Technotex 2023 offers a good opportunity for Startup Entrepreneurs who represent the fastest-growing category worldwide.
- The Government is making all efforts to promote Technical Textiles and has undertaken various initiatives in this direction, such as creation of PLI scheme, HSN Codes, National Technical Textiles Mission.
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What are Technical Textiles?
- Technical textiles are defined as textile materials and products used primarily for their technical performance and functional properties rather than their aesthetic or decorative characteristics.
- As a component or part of another product, they are used to enhance the strength, performance or other functional properties of that product.
- These products are broadly classified into 12 different categories- Agrotech, Oekotech, Buildtech, Meditech, Geotech, Clothtech, Mobiltech, Hometech, Sportstech,Indutech, Protech, Packtech.
- Technical textile accounts for approximately 13% of India’s total textile and apparel market and contributes to India’s GDP at 0.7%.
National Technical Textiles Mission (NTTM)
- The Ministry of Textiles has launched NTTM to increase the penetration level of technical textiles in India while leveraging the extraordinary growth rate of the sector.
- The aim of the mission is to position India as a global leader in Technical Textiles.
- The mission will comprise four components: Research, Innovation and Development; Promotion and Market Development; Export Promotion; Education, Training, Skill Development.
- Implementation period: Four years starting from FY 2020-21 till FY 2023-24. The total outlay of the mission is INR 1480 Cr.
- Target: 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.
What is HSN Code?
- HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world.
- HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide.
Q1) When was the National Technical Textiles Mission launched?
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.
Source: PIB