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With National Technical Textiles Mission (NTTM), consider the following statements:
1. It is launched by the Ministry of Science and Technology.
2. It has a target to take the domestic market size of technical textile sector to $ 40-50 Bn by the year 2024.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
With National Technical Textiles Mission (NTTM), consider the followin...
Statement Explanation:
1. It is launched by the Ministry of Science and Technology:
The National Technical Textiles Mission (NTTM) was actually launched by the Ministry of Textiles, not the Ministry of Science and Technology. The mission aims to promote technical textiles in India and enhance the domestic market size of the sector.
2. It has a target to take the domestic market size of technical textile sector to $ 40-50 Bn by the year 2024:
This statement is correct. The NTTM has set a target to increase the domestic market size of the technical textile sector to $ 40-50 billion by the year 2024. This ambitious goal is intended to boost the production and consumption of technical textiles in India and position the country as a global leader in this sector.
Therefore, the correct answer is 2 only.
1. It is launched by the Ministry of Science and Technology:
The National Technical Textiles Mission (NTTM) was actually launched by the Ministry of Textiles, not the Ministry of Science and Technology. The mission aims to promote technical textiles in India and enhance the domestic market size of the sector.
2. It has a target to take the domestic market size of technical textile sector to $ 40-50 Bn by the year 2024:
This statement is correct. The NTTM has set a target to increase the domestic market size of the technical textile sector to $ 40-50 billion by the year 2024. This ambitious goal is intended to boost the production and consumption of technical textiles in India and position the country as a global leader in this sector.
Therefore, the correct answer is 2 only.
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With National Technical Textiles Mission (NTTM), consider the followin...
Recently, the Ministry of Textiles in partnership with Northern India Textile Research Association (NITRA) and Indian Technical Textile Association (ITTA) organized a full-day event “National Conclave on Technical Textiles – Protech”
What are Technical Textiles?
- Technical Textiles are textile products which are manufactured primarily for their functionality and use rather than the aesthetic appeal.
- These products are broadly classified into 12 different categories- Agrotech, Oekotech, Buildtech, Meditech, Geotech, Clothtech, Mobiltech, Hometech, Sportstech,Indutech, Protech, Packtech.
Technical Textiles Mission in India
- The Ministry of Textiles has launched NTTM to increase the penetration level of technical textiles in India while leveraging the extraordinary growth rate of the sector.
- The Indian Technical Textiles Sector has an Annual Average Growth Rate (AAGR) of 12% which is three times the world average of 4%.
- The aim of the mission is to position India as a global leader in Technical Textiles.
- The mission will comprise of the following four components:
- Research, Innovation and Development
- Promotion and Market Development
- Export Promotion
- Education, Training, Skill Development
- Implementation: The NTTM has been approved with an implementation period of four years starting from FY 2020-21 till FY 2023-24. The total outlay of the mission is INR 1480 Cr.
- Target: The Mission has a target to take domestic market size of technical textile sector to $ 40-50 Bn by the year 2024 with an average growth rate of 15-20% per annum.
Hence only statement 2 is correct.
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With National Technical Textiles Mission (NTTM), consider the following statements:1. It is launched by the Ministry of Science and Technology.2. It has a target to take the domestic market size of technical textile sector to $ 40-50 Bn by the year 2024.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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