This document summarizes the potential economic impact of nanotechnology in the textile sector. It outlines that nanotechnology could provide new functionalities to textiles like self-cleaning, antibacterial, UV protection, and flame retardant properties. However, the textile industry has been slow to adopt nanotechnology due to concerns about costs, technical challenges, and lack of expertise. While some nano-enhanced textile products exist, they represent a very small portion of the market and widespread adoption of nanotechnology in textiles will likely take time.