Union Textile Minister Smriti Irani recently released HSN codes for technical textiles that is expected to act as a catalyst for achieving the market size of up to Rs.2 lakh crore by 2020-21. "The HSN codes for technical textiles is expected to benefit 900 million farmers in the country. It is a step that will help us grow to over Rs.2 lakh crore in the tech textile sector" the minister said after releasing HSN codes for technical textiles at the National Conclave on Technical Textiles in Mumbai. To fulfill longstanding demand of industry to declare technical textile items as separate category, the government has notified 207 HSN codes as technical textiles. It will give major boost to the sunrise sector, she said. In order to help the potential investors to enter into technical textiles, ministry has set up Focus Incubation Centres (FIC), Irani said.
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