Government to finance textile industry with Rs33,000 crore, of which Rs25000 crore will come from the Technology Upgradation Fund. The rise in the investment is 51.02 percent in contrast to last financial year.
In FY05 Rs11,596 crore was invested, which was 43.79 percent more than FY 03-04. For the year 2005-2006 investment increased up to 88.42 percent and finally ended on 51.02 percent this year.
Government is also keen on textile exports, which jumped to 21.8 percent in FY06 compared to 3.9 percent growth in FY05.
While representing Economic Editors Conference, Textile Minister Shankersinh Vaghela told that "We are confident of exceeding the earlier targets. We should be able to cross $50 billion by 2010."
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