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CITI Chairman emphasizes on skill development in textile sector
03
Oct '11
Confederation of Indian Textile Industry (CITI) Chairman highlights financial problems and skill development needs of textile industry. The 53rd Annual General Meeting of Confederation of Indian Textile Industry (CITI), the apex chamber of the textiles and clothing industry, was held in Mumbai on 30th September 2011.

Shri Shishir Jaipuria the outgoing Chairman pointed out in his address to the AGM that the textile sector of the country has gone through a very difficult period during the last 6 – 9 months and is currently facing problems in repayment of loans because of their financial conditions. He has requested for some liberalization in the norms for restructuring of term loans so that mills turning into NPA can be avoided.

Shri Shishir Jaipuria highlighted the skill development requirements of the textiles and clothing industry for meeting its requirements of workers on a longterm basis. He announced that CITI would be undertaking a large skill development project aiming at training around 1.5 million workers for the industry during the next 10 years.

Shri Jaipuria pointed out that interference of Government with the operations of the spinning industry, especially export of cotton yarn, and continued Excise Duty, Customs Duty as well as Anti Dumping Duty on Manmade Fibres have contributed substantially to the present situation of the industry. He welcomed the removal of restrictions on export of cotton yarn and hoped that government would establish a conducive policy framework for the industry to recover from its present crisis.

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Confederation of Indian Textile Industry (CITI)


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