GREAT Scheme

08.02.2025

GREAT Scheme

Why in the news?                                                                                                                                                                                                                                      Recently, the central government has approved 04 Start-Ups with a grant under the ‘Grant for Research & Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT)’ scheme.

About GREAT Scheme:

• It was launched in August 2023 with the aim to develop the Startup Ecosystem in Technical Textiles in India.
• It has evolved under the Research, Development, and Innovation Component of National Technical Textiles Mission (NTTM).
• It encourages young innovators, scientists/technologists, and startup ventures in the field of Technical Textiles to translate their ideas into commercial technologies/products and make India self-reliant.
• It supports individual entrepreneurs or start-ups for functional prototypes or commercialization of their technologies for Technical Textile.
• It supports innovations under application areas in all segments of Technical Textiles such as Agro-textiles, Building-textiles, Cloth-textiles, Geotextiles, Home-textiles, Industrial-textiles, Medical-textiles, Mobile-textiles, Oeko-textiles, Packaging- textiles, Protective-textiles, Sports-textiles, etc.
• Funding: A grant-in-aid of up to Rs 50 lakh for up to a period of 18 months will be provided.

Key facts about the National Technical Textiles Mission:

• It was launched to increase the penetration level of technical textiles in India while leveraging the extraordinary growth rate of the sector.
• The mission aims to position India as a global leader in Technical Textiles.

Components:

• • Research, Innovation and Development
  • Promotion and Market Development
  • Export Promotion
  • Education, Training, Skill Development
• Nodal Ministry: Ministry of Textiles

                                                              Source: PIB

Consider the following statements regarding the Grameen Credit Score:

1. It aims to formalize self help group (SHG) transactions within the central credit system of India.

2. It will help in promoting financial inclusion for self help group (SHGs) women entrepreneurs.

Which of the statements given above is/are correct?

A.1 only

B.2 only

C.Both 1 and 2

D.Neither 1 nor 2

Answer C