Home / Knowledge / News / Textiles / 'Indian textile industry should also take own initiatives'
'Indian textile industry should also take own initiatives'
14
Oct '13
The Indian textile industry should also take initiatives on its own for setting up of captive power plants, training facilities and R&D centre with the help of central and state governments to mitigate the situation, Textiles Minister K Sambasiva Rao said at the 5th edition of FICCI-TAG 2013 summit in Mumbai.
 
Inaugurating the annual conference TAG 2013 with a theme on ‘Building Competitive Advantage: Challenges & Way Forward’, the Minister said although the Indian textile industry is facing certain challenges in terms of skilled manpower, uninterrupted power supply and fluctuation in prices of cotton and yarn, the present period can be termed as the golden period for the industry.
 
He stressed on the need for revision of labour laws to allow 24 hour work shift and night shift for women in textile and apparel sector, as permitted in Information Technology (IT) and IT enabled Services (ITeS) industries.
 
Speaking on the occasion, Ms. Zohra Chatterji, Secretary, Textiles, Government of India, said the continuation of key Government schemes such as Technology Upgradation Funds Scheme (TUFS), with an additional allocation of Rs. 119.52 billion as per the 12th Five Year Plan will propel investment of over Rs. 20 billion.
 
She added that the Ministry of Textiles has also launched Integrated Skill Development Scheme (ISDS), with a target of training 10 million people by 2022 in the textiles industry.
 
She appreciated FICCI’s diligent work in Technical Textiles industry, which is growing at a robust growth rate of 20 percent and expected to reach Rs. 15.8 billion by 2016-17.
 
Manoj Saunik, Principal Secretary – Textile, Government of Maharashtra, stated that the main feature of the new Maharashtra Textile Policy is the provision of interest subsidy over and above all subsidies being provided by Central Government schemes.
 
He informed that the Maharashtra government will soon be coming out with a new scheme, and delink the TUFS with state policy in order to provide more incentives to the textile industry and make it globally competitive.
 
Rashesh Shah, chairman, FICCI Maharashtra State Council, suggested that the textile sector should be given status of “Priority Sector” so that the amount to fund its expansion plans, which is around US$ 60 billion, can be accessed through banking and financial institutions.
 
Suresh Kotak, chairman, Subgroup on Textiles of FICCI Maharashtra State Council suggested that a clear distinction between technical textiles items from conventional textiles should be done on the basis of HS codes, in order to maximize the incentives being given by the Central Government for Technical textiles.
 
The Indian textile and apparel industry, which includes both domestic market and exports, is projected to grow at 8.7% CAGR to reach US$ 210 billion by 2022. 
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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:
May 2017

May 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