ITTA Welcomes Various Government Schemes For Indian Techtex Industry

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ITTA Welcomes Various Government Schemes For Indian Techtex Industry

At the 11^th AGM of the Indian Technical Textiles Association (ITTA), Dr Anup Rakshit, Executive Director, ITTA, highlighted the immense potential of the Indian technical textiles industry. “This industry is expected to witness robust growth in the coming years as the Ministry of Textiles, Government of India has announced a number of important schemes to give a boost to this sector.” He also informed that rationalisation of the HSN codes for the technical textiles sector is continuing. In addition to the 207 HSN Codes notified in 2019, another few hundreds are in the offing and will soon be released. In his presidential address, Dr. Sundararaman K S, Chairman, ITTA, expressed his gratitude to the government for the various schemes such as NTTM, PLI, etc, and urged the Indian technical textile industry players to take advantage of the shifting of supply chains from China to gain a bigger footprint in the global arena. “During the pandemic, the PPE sector showed its resilience, and zealously took up the challenge of making available millions of PPE kits to the world, in the shortest possible time.” ITTA has been representing to the government to bring techtex made-ups into the general ambit of made-ups in order to get RoSCTL advantage, and more favourable RoDTEP rates and other incentives. He also highlighted that ITTA has entered into an MoU with the International Finance Corporation (IFC) to bring in international experts to guide Indian companies to reach global standards. ITTA is also working closely with the BIS for the formulation of Indian standards on technical textiles. TN offers growth ecosystem to Indian techtex industry Speaking on the event, the Pooja Kulkarni, Managing Director & CEO Guidance - Tamil Nadu Industries Department, Government of Tamil Nadu, talked about the growth of technical textiles in the state. She emphasised that Tamil Nadu is the top investment destination in India due to the state’s advanced infrastructure, network capacity and locational advantages that cater to its well-established manufacturing ecosystem and facilitate exports. She pointed out that Tamil Nadu technical textile ecosystem covers agrotextiles, industrial textiles and medical textiles and the upcoming technical textile parks in Karur and Virudhunagar, SIDCO-JICA Kanchipuram and SIDCO-JICA Karur. She also informed about the Investment Promotion Subsidy such as fixed capital subsidy, flexible capital subsidy and turnover based subsidy and other subsidies being offered by the state. Recognition of service Pramod Khosla, past chairman, ITTA was honoured with Outstanding Achievement Award of ITTA, while Nirav Mehta, Director, ITTA was awarded for his extraordinary services to the association. New committee of ITTA Amit Agrawal, Chairman, CTM Technical Textiles Ltd. formally took over as the chairman of ITTA and Avinash Misar, Director & CEO, Texport Syndicate India Ltd.- Advanced Material Division was elected as the Vice Chairman of ITTA.