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GREATScheme, which was recently seen in the news, is associated with which sector?
Renewable Energy
Food Processing
Textiles
Biotechnology
Textiles
The Ministry of Textiles has approved 31 innovative start-ups under the GREAT scheme to boost India's technical textile ecosystem.
The GREAT (Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles) scheme was launched in 2023 under the umbrella of the National Technical Textiles Mission (NTTM). It is designed to foster innovation by providing a platform for start-ups and researchers to convert unique ideas into commercial technologies. By supporting entrepreneurship in this high-growth sector, the government aims to reduce import dependence and enhance the indigenous manufacturing capacity of high-value technical textiles.
Scheme Name: Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)
Implementation Year: 2023
Financial Assistance: Up to 50 lakh rupees per approved start-up
Current Progress: 31 innovative start-ups approved by the Ministry of Textiles
C is correct тАФ The GREAT scheme provides financial grants of up to 50 lakh rupees to support start-ups and innovators within the technical textiles sector.
Remember 'GREAT' as the acronym for 'Grants for Technical Textiles' to link it directly to the Ministry of Textiles instead of other innovation-heavy sectors like Biotech or Energy.
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