Funding with No Equity and No Interest?

Funding with No Equity and No Interest?

Sounds like a dream right? But the Indian Govt is your friendly neighborhood shark here.

The global technical textiles market is set to reach $274 billion by 2027, growing at a CAGR of 5.2% during 2022-27 and the Indian Govt does NOT want to fall back in this race.

The Indian technical textiles market is the 5th largest in the world.

With a market of $21.95 billion in 2021-22 and is set to grow at 10% per annum.

The Union Ministry of textiles is offering up to INR 50 Lakh each to startups in the technical textiles space and the cherry on the top?

Generally fund providers take royalty/profits on their investments, however the ministry is not going to take any profits generated from the business!

Additionally there are multiple supporting schemes for startups entering this space.

The funding is part of a ₹375 crore allocation for FY25 from the National Technical Textiles Mission.

So you know the government is very bullish on this sector.