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

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Ritu Kumar
Label Ritu Kumar

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search