Home / Knowledge / News / Textiles / India targets 11.5% annual hike in fabric output
India targets 11.5% annual hike in fabric output
19
Mar '13
The 11th Five Year Plan growth targets for textiles sector were (a) cloth production to grow at the rate of 12 percent in volume terms; (b) clothing and apparel to grow at the rate of 16 percent in volume terms and 21 percent in value terms. The 12th Five Year Plan has targeted an average annual growth rate of 11.5 percent in volume terms in cloth production and 15 percent in value of exports by increasing domestic value addition and technological depth and by enhancing the global competitiveness of textiles products. The 12th Plan envisages additional employment to the tune of 15.81 million would be created by 2016-17.

Fabric production registered a compounded annual growth rate of 3.75 percent during the first four years of the 11th Five Year Plan. In 2009-10 there was a significant growth rate of 9.8 percent in the fabric production. Slowdown in the textiles industry, raw material price volatility and global recession were amongst the reasons for 11th Five Year Plan targets not being achieved. Government in the 12th Five Year Plan has announced the continuation of the Technology Upgradation Funds Scheme (TUFS) for catalyzing investments and employment generation in textiles sector.

Textiles sector provides employment to over 35 million workers.

As per the Economic Survey 2012-13, textiles industry witnessed a growth rate of 6.7 percent in 2010-11, (-) 1.3 percent in 2011-12 and 6.9 percent in the first 3 quarters of 2012-13. Wearing apparels have witnessed a growth rate of 3.7 percent in 2010-11, (-) 8.5 percent in 2011-12 and (-) 6.4 percent in the 1st quarter of 2012-13. The apparel sector witnessed a positive growth after 5 years of negative growth in the 2nd quarter of 2012-13 when it recorded a growth rate of 5.4 percent. Government enhanced the TUFS allocations under the 11th Plan from Rs.8000 crores to Rs.15432 crores to ensure that adequate resources are available for financing interest reimbursement subsidies in a timely manner.

The total exposure of banks to textiles industry as of May 2012 is Rs.171, 351 crores. In the year 2011-12 when the textiles industry was generating deficit cash flows, Government announced a Rs.35000 crore debt restructuring package to be taken up on a case by case basis under the Reserve Bank of India’s 2008 prudential guidelines.

Ministry of Textiles


Must ReadView All

Alliance to form joint entity for safety in factories

Textiles | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

ACFTA to benefit Egyptian RMG exports: trade body official

Apparel/Garments | On 24th Apr 2018

ACFTA to benefit Egyptian RMG exports: trade body official

Egypt’s readymade garment (RMG) sector’s exports to African countries ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ashok Desai
Bombay Textile Research Association

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Ritu Kumar
Label Ritu Kumar

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

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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