Out of these 18 mills, 2 mills at Coimbatore are likely to be dropped from the joint venture list due to improved performance and will be modernized by NTC itself. The Minister further informed that at present NTC is in the process of inviting proposals for joint ventures with private entrepreneurs to modernize and run some of these mills.
He further stated that efforts of the Government to move NTC towards profitability has started bearing fruit and the dependence of the company on the Government has come down to Rs.60 crore from Rs. 300 crore annually.
During the discussions, the Members raised several issues concerning modernization of NTC mills and problems faced by the garment exporters in the wake of rupee appreciation vis-à-vis US dollar.
The Meeting was attended, among others, by the Minister of State for Textiles, Shri E.V.K.S. Elangovan, S/Shri D. Vittal Rao, Dhanuskodi Athithan, Mahesh Kumar Kanodia, Jai Prakash, Mohan Rawale, Member of Parliaments from Lok Sabha and Shri S. Anbalagan, Member of Parliament from Rajya Sabha.
Press Information Bureau Government of India
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