he Union Minister for Textiles, Shri Shankersinh Vaghela addressing the press conference in Bengaluru Monday.
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The Investments in the textiles sector are expected to reach Rs. 1,50,600 crore by 2012 and this will generate 17.37 million new jobs in the textiles sector.
Addressing a press conference in Bengaluru Minister for Textiles, Shankersinh Vaghela said that the biggest achievement of the UPA Government was to turnaround the Indian Textiles from Sunset to Sunrise sector.
The industry is increasingly embracing modern technology and work processes, becoming more competitive, building strong brand equity for its products, and consistently achieving higher growth rates than ever in its long history.
Meanwhile the Plan allocation for textiles was increased by 66.21% in 2007-08, and by 11.45% in 2008-09.
The textiles exports which were on a downward trajectory are on the upswing due to timely remedial measures undertaken by the Central Government.
The textiles exports were US $ 20.5 billion in 2007-08, and are expected to increase by 20 per cent during this fiscal year.
It is informed that thirty Integrated Textiles Parks had been sanctioned under the Scheme for Integrated Textiles Park (SITP), and these create employment for 5.75 lakh worker and would produce textiles product worth Rs. 27,400 crore annually.
All these parks will start operations by the end of 2008-09. He further added that ten additional Parks will be set up by 2012 under SITP.
The Doddabalapur Integrated Textiles Park in Karnataka would be completed by March next year.
The Government had imparted a new momentum to the implementation of the Technology Up-gradation Fund Scheme (TUFS) and, on the persistent demand of the industry; the Scheme has been extended up to the end of the XIth Five-Year Plan. Imported second hand machinery doesn't comes under for assistance under the TUFS, except automatic shuttleless looms.
The Minister said that Rs. 60 crore has been provided for the Scheme for setting up of Jute Parks under the Mini-Mission IV of the Jute Technology Mission (JTM).
The Scheme will provide entrepreneurs with facilities similar to those available in the Export Processing Zones.
During the 11th Five Year Plan Period, Six Jute Parks will be set up in non-special category States and Four Parks will be set up in the North Eastern States.
Four Parks in non- special category States are proposed to be set up at Rezinagar, Murshidabad; Chackchaka, Cooch Behar and Shaktigarh, Burdhaman all in West Bengal, and Shrinagar in Rajasthan.
