According to a survey carried out by the Ministry of Textiles, on annual capacity, actual production, exports and proposed investment of technology upgradation, of the Rs1,40,000 crore investment required in the industry for its modernisation and expansion about Rs70,000 crore is needed for installation of plant and machinery.
The production of textile machinery, parts and accessories saw an increase from Rs1,668 crore in 2004-05 to Rs2151 crore in 2005-06, registering an increase of 28 percent, said the industry sources.
Despite the leap in manufacturing sector, the imports of both new and second-hand machinery have risen from Rs2,575 crore to Rs3,765 crore, but exports have not gone up comparatively. They stood at Rs690 crore in 2005-06 against Rs587 crore in the previous year.
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