India to position itself as global MMF, tech textiles hub
December 04, 2020 - India
India is working on major interventions to position the country as a global hub in the man-made fibre (MMF) and technical textiles segments, including setting up five integrated mega textiles parks, a world-class testing lab and starting a Focused Product Scheme, according to textiles secretary Ravi Capoor, who recently said India must explore the $150-billion global MMF market.
He said his department is in talks with the department of higher education for introduction of courses in universities and technical institutions like engineering colleges for creation of specialised manpower in the MMF and technical textiles segments, according to Indian media reports.
Addressing a virtual Confederation of Indian Industry conference, Capoor said an evaluation study led by Niti Aayog on the Technology Upgradation Fund Scheme (TUFS) of the textiles ministry has revealed that India imports ₹13,000 crore worth machinery and the country has reached nowhere in terms of technology upgradation except in the spinning segment.
He said the government is also willing to offer capital investment subsidy for setting up machine manufacturing plants to textile industry players interested in forging joint ventures, provided the foreign partner agrees to supply machines to domestic firms at a particular price.
The Focused Product Scheme offering production-linked incentives was 'almost ready' and will lay special emphasis on the MMF and technical textiles segments, he said.
He also said the ministry will soon consult industry players on the new textiles policy, which lays out the future roadmap for India to move ahead in the sector.