Home / Knowledge / News / Textiles / Twenty two mills to be modernized by NTC
Twenty two mills to be modernized by NTC
28
Feb '08
Twenty two mills will be modernized by National Textiles Corporation (NTC) itself by inducting new machineries, rationalization of manpower, capital restructuring etc.

Out of forty mills, remaining 18 mills will be modernized through Joint Venture route. Private partners to run 5 of these mills have been finalized.

This was stated by the Minister of State for Textiles, Shri E.V.K.S. Elangovan, in the Rajya Sabha, in a written reply to a question by Shri Amir Alam Khan.

Giving further details of the Modified Rehabilitation Scheme, 2006 approved by BIFR and Group of Ministers (GOM), the Minister informed the House that out of the total 52 mills, 12 mills have been identified for further closure where there was no production activity and most of the employees opted for benefits of Modified Voluntary Retirement Scheme (MVRS). Out of these, 2 mills have been closed, raising the number of closed mills from 65 to 67.

National Textiles Corporation (NTC) was incorporated in 1968 with the main objective of managing the affairs of 16 sick textile mills taken over by the Government.

NTC took over more sick textile mills under 3 Nationalization Acts. (1974, 1986 & 1995), raising its number upto 119 mills in 1995.

As per the Rehabilitation Scheme, 2002, the Board for Industrial and Financial Reconstruction (BIFR) approved revival of 53 viable mills and closure of 66 unviable mills.

65 unviable mills were closed under theAct. 2 Mills (one viable and one unviable) located in the Union Territory of Puducherry have been transferred to the Government of Puducherry.

With this, NTC was left with 117 sick mills, i.e. 52 viable mills and 65 closed mills.

Press Information Bureau Government of India


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Courtesy: Epson

Textiles | On 19th Jan 2018

Epson's new SC F2100 enhances DTG printing

Epson, a leader in inkjet printers and digital textile printing...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Eric Scholler
Groz-Beckert

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

Mohammad Hassan
Biax Fiberfilm

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Jay Ramrakhiani
Occasions Elegance Wear

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

Yash P. Kotak
Bombay Hemp Company

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

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

January 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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
8.2%
Skip
9.3%

Total Votes: 97


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