2006 - watershed year for Indian textiles industry
02 Jan '07
3 min read
Registering all round growth, Indian textiles industry seems to hit the highway of progress and success, last year(2006).
What with 31 percent rise in exports; Technology Upgradation Fund Scheme (TUFS) scheme attracting investment worth RS. 53,003 crores; ambitious plans to set up 26 Integrated Textile Parks, launch of the Handloom Mark and textile sector investment raising the bar at RS. 15,032 crores mark in 2005-06!
Whew! One could easily term this as 'stupendous!' But, wait a moment - there's more to all this.
Just imagine, 35 million people employed in this huge sector which account for 17 percent to the country's export earnings, and more jobs on cards as Textile Parks shall come up this year.
Be it ready-made garments, cotton textiles, textiles made from man-made fibre, wool and woollen goods, silk, handicrafts, coir, and jute; all contributed to the country's export earnings figure.
Where banks and financial institutions once feared to tread, this effervescent sector saw a massive inswing of investment for past two years rising from Rs. 7349 crores in 2004-05 to Rs. 15,032 crores in 2005-06.
Scheme for Integrated Textiles Parks (SITP) launched in August 2005, will go in a long way to strengthen infrastructural facilities in potential growth areas with the merging of existing two schemes viz. "Apparel Parks for Exports Scheme (APES)" and "Textile Centres Infrastructure Development Scheme (TCIDS)."
On the twilight jute sector, the Textiles Ministry specially formulated a National Jute Policy 2005, merging Jute Manufactures Development Council (JMDC) and the National Centre for Jute Diversification (NCJD).
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