A one-day national seminar on Textile Industry - Vision 2010 is scheduled to be held on 9 March to prepare a strategy to help Indian textile industry to compete effectively at the global level, especially after removal of quota restrictions for exports since January 2005.
Organised jointly by regional offices of Textile Commissioner and Textiles Committee, Apparels and Handloom Exporters Association, and Indo-American Chamber of Commerce, the seminar would be followed up by discussion on topics like quality, cost, competitiveness and timely delivery, besides the importance of HR management by industry leaders and experts.
A target of $40 billion has been set to be achieved by 2010 from the present level of $13 billion, said H N Nagaraju, Director, Regional Office, Textile Commissioner.
Textiles contribute 8 per cent to GDP with a share of 20 per cent in country's overall exports.
An investment of $0.5 billion would result in an increase of $1 billion in textile exports, a study said.
The strategy to expand would include nurturing small scale enterprises in textile sector with cost competitiveness and technology.
Technology Upgradation scheme has been set up to provide funds at concessional rates of interest for the sector.
Integrated Textile Park, involving weaving, processing and garmenting housed under one campus was also conceptualized. Entrepreneurs were being sanctioned 40 per cent grant with a ceiling of Rs 40 crore to set up business in Textile Park, Nagaraju said.
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