“Under the aegis of Ministry of Textiles, for the first time in the history of India, we have dedicated to the nation 207 HSN codes for technical textiles. I see this as a function of unleashing the potential of not only technical textiles but also of an industry which impacts both our farm life and our space pursuits. This decision alone can enable the sector to grow to a market size of 2 lakh crore rupees by 2020-2021”. This was stated by the Union Textiles Minister Smt. Smriti Zubin Irani, at the National Conclave on Technical Textiles, jointly organized by the Ministry of Textiles and FICCI, in Mumbai today. Stating that the notification is a milestone which is significant for the industry, the Minister thanked the industry who have guided and inspired the Government in this initiative.To monitor the data of import and export and in order to provide any fiscal support to the technical textile sector, the first step was to recognize and notify separately the technical textiles items spread from chapter 1 to 99 of HSN classification book. In absence of clear classification of technical textiles, there was confusion and many genuine manufactures were not getting various incentives being allowed to technical textile sector by Central and State Governments. To fulfill the long-standing demand of industry to declare Technical Textile items as separate category, Government of India has notified 207 HSN Codes as Technical Textiles. This step will give a major boost to the Technical Textile sector in India and it is expected that this step of Government will act as a catalyst for achieving the Market Size of Technical Textiles up to Rs.2.00 lakh crore by 2020-21.
