The government will soon release guidelines to support startups interested in undertaking research and innovation in the technical textiles segment and is contemplating a grant of up to Rs 50 lakh for approved proposals, a top official said on Thursday.
Responding to a query by PTI, secretary of the Textiles Ministry Rachna Shah said that she is hopeful that the norms will be unveiled in a month's time.
"We would have an evaluation committee which would decide on approving a grant for that, so the grant would be up to Rs 50 lakh, that is what we are looking at," Shah said.
Hopefully, within a month or so, we will be able to have the guidelines, she added.
Addressing a press briefing, the secretary informed that the government is looking at measures to cut India's heavy import dependence on machinery and specialty fibre for the technical textiles sector.