Home / Knowledge / News / Textiles / Indian govt to boost funding for powerlooms in 12th Plan
Indian govt to boost funding for powerlooms in 12th Plan
21
Feb '12
The Indian Ministry of Textiles has sought a 10-fold jump in Government allocation for powerlooms during the 12th Five-Year Plan period that begins from April 2012.

Compared to allocation of Rs. 1.14 billion for the powerloom sector during the 11th Five-Year Plan, the Ministry has sought Rs. 12 billion from the Planning Commission during the next Plan period, Textile Commissioner AB Joshi said.

Speaking at the inauguration of Texpo 2012, a buyer-seller meet and exhibition of powerloom fabrics, made ups and home textiles, in Mumbai, Mr. Joshi said the Planning Commission understands that it is necessary to do something to improve the price competitiveness of Indian powerloom sector in international markets.

Mr. Joshi said the Government is planning to introduce several programmes to boost the highly unorganized powerloom sector, which accounts for about 75 percent of textiles production in the country. It includes a cluster development programme for the industry, and setting up of yarn banks to make sure that quality yarns are available to the textile sector.

The Textile Commissioner said the textile sector accounted for only US$ 32 billion of the total US$ 246 billion worth of merchandise exports from India in 2010-11. He added that the share of powerloom textiles was only 4.5 percent.

During the past six decades, Indian textile industry has been growing at an average of 3-4 percent per year. But during the 11th Five-Year Plan period, the textile sector is projected to grow at 16 percent and is expected to touch US$ 115 billion in 2011-12, with domestic market accounting for US$ 60 billion and exports worth US$ 55 billion.

There are about 2.7 million powerlooms in the country that produce nearly 75 percent of all textiles manufactured in India. Of this, around 60 percent is cotton textile/yarn production and the remaining 40 percent is synthetic textiles.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search