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Indian textile sector grows 11% between 2007-12
15
Mar '12
The Indian textiles industry has witnessed a growth of 11% during the 11th Five-Year-Plan.

This was revealed by Minister of State for Textiles – Ms Panabaaka Lakshmi in the Rajya Sabha – the Upper House of Parliament.

The government has implemented several policy initiatives like Technology Upgradation Fund Scheme (TUFs), Scheme for Integrated Textile Parks (SITP), Integrated Skill Development Scheme and export promotion schemes for development of powerloom sector.

This will further boost rapid modernization of cotton textile industry, the Rajya Sabha was informed.

The Textiles Ministry has also conducted a study of benchmarking of apparel industry with reference to the sector in China and Bangladesh.

Key findings of the study like improved statistical collection, strengthening export credit guarantee schemes (EPCG), adherence to timely supplies, low power and labour costs have been adopted in the 12th Five-Year-Plan.

Fibre2fashion News Desk - India

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