State run National Cooperative Development Corporation (NCDC) is going to give a fresh life to several sick textile units with a disbursal plan of Rs40 billion.
The year 2005-06 also saw NCDC earning highest profit of Rs1.4 billion with its non performing assets coming down to 0.68 percent from 1.26 percent.
The rehabilitation package for textile units includes restructuring of existing debts, modernization and expansion of sick units with one such plan already under way in Rajasthan.
Textile mills which have got the approval for revival are in Pondicherry and West Bengal while proposal to revive five mills in Tamil Nadu is being forwarded by the government to NCDC.
NCDC data reveal that almost 70 out of 180 cooperative textile mills are either shut or sick.
India is a country where cooperative sector is vibrant with around 550,000 units working in areas such as dairy, agro processing, leather, sugar or textile and apparels.
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