Textile sector requires Rs1,94,000 cr to become $110 bn industry by 2012
21 Mar '07
3 min read
In the year 2006-07, around Rs30,000 crore is estimated to be sanctioned under TUFS and for remaining investment (25-35 per cent), industry would have to depend on foreign direct investment, according to J N Singh, Textile Commissioner, Ministry of Textiles,
Government has made provisions for a special corpus fund in the next Five Year Plan for branding Indian cotton.
"The Government has kept a particular fund this year for branding cotton in the Plan, which has been provided for the first time," said Sudripto Roy.
"An India brand is important as a lot of Indian cotton is being shown as grown in other countries." He says, "Shankar is a very important brand. If it is branded (internationally), one would say if it is Shankar, it is from India," Roy said.
"We are trying to make a branded market so that the quality is standardised. Indian cotton is needed to be marketed globally, and that too properly," K F Jhunjhunwala, President, East India Cotton Association said.
Textile firms should work closely with suppliers and customers in order to reduce working capital cycle and release funds for capital investment, a study by Crisil suggests.
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