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      Question

      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?
      A To support traditional textile industries in UAE Correct Answer Incorrect Answer
      B To develop a startup ecosystem in technical textiles Correct Answer Incorrect Answer
      C To promote agricultural products across urban India Correct Answer Incorrect Answer
      D To promote the growth and development of the textile industry in India Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      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.

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