Centre invites proposals to set up Export Promotion Council for technical textiles
By TIOL News Service
NEW DELHI, DEC 04, 2020: THE government has invited proposals from the industry to set up a dedicated Export Promotion Council (EPC) to promote international trade of technical textiles.
"The Exporter Association and Trade bodies registered under Companies Act or Society Registration Act have been asked to submit proposal for constitution of a dedicated EPC for Technical Textiles by 15th December 2020," the Ministry of Textiles said in a notification on Thursday.
The Council will abide by all directions of the central government in respect of promotion and development of international trade and would be responsible to promote ITC-HS lines identified and notified by the Directorate General of Foreign Trade.
Textiles materials and products manufactured primarily for technical performance and functional properties rather than aesthetic characteristics are called technical textiles. They are used for various applications ranging from agriculture, roads, railway tracks, sportswear, health on one end to bullet proof jackets, fire proof jackets, high altitude combat gear and space applications on the other spectrum.
India shares nearly 6% of world market size of USD 250 Billion and the average annual growth rate of the segment is 12%, as compared to 4% world average growth.
The Cabinet Committee on Economic Affairs, in its meeting held on 26 February 2020, gave its approval to set up a National Technical Textiles Mission with a total outlay of Rs 1,480 crore, with a view to position the country as a global leader in technical textiles. The Mission would have a four year implementation period from FY 2020-21 to 2023-24 and the constitution of the EPC is one of its components.