Govt approves National Technical Textiles Mission with Rs 1,480 cr outlay, Retail News, ET Retail

The authorities on Wednesday authorised placing up of a Countrywide Specialized Textiles Mission with a complete outlay of Rs one,480 crore with a watch to position the country as a international leader in specialized textiles.

The Mission will have a four 12 months implementation interval from economic 12 months 2020-21 to 2023-24.

The selection was taken at a assembly of Cabinet Committee on Economic Affairs chaired by Key Minister Narendra Modi right here.

“The Mission will purpose at regular expansion rate of fifteen-20 per cent per annum using the amount of domestic market measurement to USD forty-fifty billion by the 12 months 2024 as a result of market advancement, market marketing, global specialized collaborations, investment decision promotions and ‘Make in India’ initiatives,” an official assertion explained.

It envisages export marketing of specialized textiles, improving it from the latest yearly worth of somewhere around Rs fourteen,000 crore to Rs 20,000 crore

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