During the two-day Economic Editors' Conference held during November 7-8, 2006, the Minister in his segment focussed on Textiles Sector informed that of the 119 National Textile Corporation factories, 65 have already been closed, 22 are scheduled for revamp where imported machinery has already been ordered. Within a year, almost 15 mills are expected to be operational, completely.
Vaghela added that while two of these plants have been allocated to Pondicherry Government, 18 are open for joint venture proposals.
As for sale of assets, he informed that five units were sold grossing Rs2000 crores.
Commenting on the country's handloom sector, Vaghela said that raw material depots have been set up and under the Mahatma Gandhi Yojna, one retail expo will be organized for every three districts of the country.
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Fibre2fashion, News Desk - India
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