Textile Sphere News Roundup – 28th September 2024
1. Textile Industry to
Create 6 Crore Jobs by 2030, Says Minister
Union Minister of Textiles,
Giriraj Singh, announced that the Indian textile industry is projected to
generate between 4.5 crore to 6 crore jobs worldwide by 2030, with a
significant growth target of $350 billion. This growth is propelled by
initiatives like the Pradhan Mantri Mega Integrated Textile Region and Apparel
(PM-MITRA) parks, which are expected to attract an investment of ₹70,000 crore
and create 21 lakh jobs. The Minister also highlighted the expansion of the Eri
Sericulture Promotional Project across the country, aiming to provide
employment to farmers, and announced that the Bharat Tex event will serve as a
platform for attracting foreign investments in textiles, focusing on the
"4S"—style, scale, skill, and sustainability.
2. First Tranche of
Disbursements in Textile PLI Expected This Fiscal Year
India is poised to see its
first tranche of disbursements under the Production Linked Incentive (PLI)
scheme for textiles this financial year. Around a dozen companies will start
receiving incentives under this scheme, which was launched in 2021 with a
budgetary outlay of ₹10,683 crore, focusing on man-made fibers (MMF) apparel,
MMF fabrics, and technical textiles. This move comes as Indian textile and
garment exports have stagnated, while countries like Vietnam and Bangladesh
have expanded their market share. The Ministry of Textiles is optimistic that
the PLI scheme, along with the PM-MITRA parks and free trade agreements, will
significantly boost India's textile manufacturing sector.
3. AICTE Launches Curriculum
for Undergraduate Degree in Textile Engineering
The All India Council for
Technical Education (AICTE) has launched the final model curriculum for
Undergraduate Textile Engineering courses and released the draft curriculum for
Bachelor of Computer Applications (BCA) programs. The Textile Engineering
curriculum integrates core courses with advanced topics such as textile
technology, sustainability, nanotechnology, and smart textiles. It emphasizes
practical learning, including summer internships, and offers elective courses
in emerging fields like artificial intelligence and the circular economy. The
BCA curriculum aims to include global trends in computing, offering flexibility
with both three-year and four-year program options. AICTE invites feedback from
institutions, educators, and industry professionals to further refine these
programs.
4. Indorama Ventures
Concentrates Yarn Production in Italy to Serve European Textile Industry
Indorama Ventures, a global
leader in petrochemicals and polyester fibers, has announced that it is
consolidating its high-performance polyester filament yarn production in Italy,
near Milan. This move aims to serve the European textile market more
efficiently by transferring operations from Germany and focusing expertise in
spinning, draw texturizing, and dyeing at its Italian facilities. European
customers will benefit from a more reliable supply of high-quality yarns for
various applications, including apparel, home textiles, woven labels, and
automotive interiors. The company's twisting and air texturizing processes will
continue to be carried out in Bulgaria.
Note: As always, Textile
Sphere brings you news from reliable sources to keep you well-informed about
the latest developments in the textile industry.
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