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Source-This post on GREAT Scheme has been created based on the article “Ministry of Textiles approved Startups in Technical Textiles to boost innovation: Textiles Secretary” published in “PIB” on 19 June 2024.
Why in the news?
The Ministry of Textiles announced the GREAT Scheme during the 7th meeting of the Empowered Programme Committee (EPC) of the National Technical Textiles Mission (NTTM).
About GREAT Scheme
| Aspects | Description |
| About | The Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) Scheme is designed to support individuals and companies in translating prototypes into technologies and products, including commercialization. The GREAT Scheme is aligned with the objectives of the National Technical Textiles Mission. |
| Aim | i) To boost the development of the technical textiles startup ecosystem in India. ii) Focuses on niche sub-segments such as biodegradable and sustainable textiles, high-performance and specialty fibers, and smart textiles. |
| Funding | Provides a grant-in-aid of up to Rs 50 lakh for a period of up to 18 months. The Ministry of Textiles additionally provides 10% of the total grant-in-aid to incubators. Incubatees are required to contribute a minimum of 10%. Incubators include IITs, NITs, Textiles Research Associations, and Centres of Excellence. |
| Infrastructure and Training | 26 institutes have been approved for upgrading their laboratory infrastructure and training of trainers in technical textiles application areas. |
About National Technical Textiles Mission (NTTM)
| Aspects | Description |
| About | National Technical Textiles Mission (NTTM) was launched to increase the penetration level of technical textiles in India and leverage the sector’s extraordinary growth rate. |
| Nodal Ministry | Ministry of Textiles |
| Implementation Period | It has been approved for four years, starting from FY 2020-21 to FY 2023-24. |
| Aim | It aims to position India as a global leader in technical textiles. |
| Components | Research, Innovation, and Development: Fostering advancements and innovation in the technical textiles sector. Promotion and Market Development: Enhancing market growth and promoting technical textiles. Export Promotion: Increasing the export of technical textiles. Education, Training, and Skill Development: Developing skills and providing education related to technical textiles. |
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