(xiii) Government has launched the Debt Restructuring Scheme w.e.f. Sept.2003 with the principal objective to permit banks to lend to the textiles sector at 8.9% rate of interest.
(xiv) The National Institute of Fashion Technology (NIFT) has been set up to provide a leadership role in sensitizing the Industry to the concept of value addition by inducting trained professionals to manage the industry. This has resulted in an increased demand for trained professionals in various sectors servicing the industry.
Press Information Bureau Government of India
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