The genesis of the Mill around which TIT was created, goes back to the year 1911 when it was established by Rai Bahadur Tara Chand under the name and style of "Bhiwani Cotton Spg. & Wvg Mill Co., Ltd." Its foundation stone was laid on 28 January, 1911 by Sir Louis Dane, the then Lt Governor of Punjab. The Mill worked till the Ist World War, i.e. upto 1919 and thereafter it remained closed except for a brief revival in 1932 when someone took it on lease. Around 1938, Birla Mills, Delhi purchased the property from Rai Bahadur Tarachand through Shri M.D. Dalmia. Thereafter, at the instance of Sh. G.D. Birla, this mill was kept as a separate entity in the name of 'Bhiwani Cloth Mills Ltd.' Visualising the need for, and importance of, high grade technical-cum practical education in the field of Textiles, the Birla Education Trust, Pilani took over the Mill and attached it to an Institute for imparting education/training in the different processes of Textile Technology on scientific lines under actual mill working conditions, and for conducting research and perfecting the processes necessary for and incidental to the manufacture of all types of textile products. The Technical College established in 1943 was initially affiliated to the Department of Industrial Training, Punjab for 3-year Diploma course in Spinning Technology and Weaving Technology.

TIT remained a part of the Birla Education Trust upto 31 March, 1985. From Ist April, 1985 it was separated from the Trust and an independent Society known as "The Teachnological Institute of Textiles" was formed to manage it which was registered under the West Bengal Societies Registration Act 1961. To reflect the expanded instructional facilities and new courses the Society was rechristened as "The Technological Institute of Textile & Sciences".