Shri Shankersinh Vaghela, Minister of Textiles has raised the curtain for the forthcoming event of TEX Summit 2007 by formally launching the official website and brochures of the Summit.
Shri Vaghela, while briefing the media persons told that four working groups are being constituted for (1) Textile inputs (2) Human Resource Development (3) Policy framework and the role of the Government and (4) Market Development.
The Minister further said that the two-day summit will discuss and come out solutions to the problems presently faced by the textile industry.
However, the Minister observed that the textile sector which used to be called as sun-set sector has been converted into a sun-rise sector. He further said that the textile sector is the second largest employer after agriculture.
In the year 2005-06 the growth rate was 20 per cent. However due to the rupee valuation in the current year the exporters faced problem.
Even for overcoming this problem, he held meetings and after consultation with the Commerce and Finance Ministries, the Prime Minister has announced the duty draw back concession and thus made it a sun-rise sector.
Press Information Bureau Government of India
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