Textiles Ministry identifies 4,000 startups for export growth support
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The textiles ministry has identified over 4,000 textile-based startups for support to scale up and become export-ready over the next three to four years. Consultations with registered startups and small businesses are expected to begin in late November or early December, followed by a national startup conclave in December to assess their needs.
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Loading...×New Delhi: The textiles ministry has identified more than 4,000 textile-based startups that would be aided to scale up and get export ready in the next three-four years.The initiative aims to bring these businesses together, help them scale and build a pipeline of potential exporters, an official said.
“We need to actually create an aggregation of these businesses so that they can act as a multiplier to propel demand, take businesses to the remotest parts of the country and identify those with the potential to enter the export markets in the next three to four years,” the official said.
The ministry plans to engage with startups and small businesses across the sector, including social media-led ventures, provided that they are registered, particularly under the Department for Promotion of Industry and Internal Trade framework.
The proposed engagements are expected to help establish what support these enterprises need to move from small-scale operations to larger, export-oriented businesses.
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These consultations are expected to begin in late November or early December, followed by a national startup conclave in December to bring textile entrepreneurs together. The discussions will help the ministry assess the needs of these businesses and identify areas where government support could accelerate their growth, the official said.
The government operates several schemes under the Startup India initiative to support startups across sectors, including textiles. These include the Fund of Funds for Startups and the Credit Guarantee Scheme for Startups, which support eligible businesses through funding and credit-related assistance.
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
