In order to position the country as a global hub in the man-made fibre or MMF and technical textiles segments, India is working hard to introduce a few major interventions involving setting up five integrated mega textiles parks, a testing lab, initiating a Focused Product Scheme offering production-linked incentives. The Focused Product Scheme will be laying special emphasis on the MMF and technical textile segments.
The information was laid by textiles secretary Ravi Capoor who recently expressed the need of India to explore the global MMF market holding $140 billion share. He also said that the department is in conversation with the department of higher education for the introduction of similar courses in universities and technical institutes. According to the Indian media reports, engineering colleges could be approached for the creation of specialised manpower in the MMF and technical textiles segments.
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Sharing his take on the plan in a virtual Confederation of Indian Industry conference, the textiles secretary also quoted that a Niti Aayog-led study on Technology Upgradation Fund Scheme of the textiles ministry revealed that India has failed to reach any milestone in terms of technology upgradation, however, still reaching somewhere in the spinning segment. It also reveals that India imports machinery worth Rs. 13,000 crore.
Capoor said that government is also willing to offer capital investment subsidy for establishing machine manufacturing plants to the textile industrialists wanting to start forging joint ventures given the foreign partners agree on supplying the machines directly to the domestic firms at a particular price. Capoor also mentioned that soon the industry players will be consulted over the new textiles policy which is supposed to shape India’s future in favour of the both, the country and the sector.
