What is the primary objective of the GREAT scheme, which is expected to have a positive impact on the banking industry's textile sector portfolio?

The Empowered Programme Committee of the National Technical Textiles Mission (NTTM) has approved 7 startup proposals under the GREAT scheme. GREAT (Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles) is part of NTTM’s Research, Development, and Innovation Component, led by the Ministry of Textiles. It offers grants-in-aid of up to INR 50 lakhs over 18 months to harness India’s technical textiles sector expertise for innovative product and technology development. The GREAT Scheme supports innovators in technical textiles to develop prototypes into market-ready technologies and products, facilitating commercialization. Aimed at enhancing India’s startup ecosystem in sectors like sustainable textiles, specialty fibers, and smart textiles, it offers crucial support for innovation.