Home / Knowledge / News / Textiles / Textiles Industry to achieve 16% growth rate by 2012
Textiles Industry to achieve 16% growth rate by 2012
Oct '08
The Union Minister of Textiles, Shri Shankersinh Vaghela, inaugurated the Woollen Expo at Godhra, Gujarat. He has also distributed insurance certificate to shepherds. Addressing on the occasion, Shri Vaghela said that as a part of welfare measure the Government have introduced Sheep Breeders Insurance Scheme and Sheep Insurance Scheme during the XIth Five Year Plan Period.

He said that presently, the Scheme covers the State of Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Karnataka, Himachal Pradesh, Jammu & Kashmir, Haryana and Uttrakhand and the Scheme provides insurance coverage of Rs. 1,200 per sheep between the age of 1 to 9 years, at a premium of Rs. 44 per year, of which Rs. 19 and Rs. 25 are contributed by the Shepherd and the Government of India, respectively. The Central Wool Development Board, CWDB, Jodhpur is implementing the Scheme in collaboration with M/s Oriental Insurance Company of India Ltd.

Shri Vaghela said that the Shepherds Insurance Scheme is being implemented in collaboration with the Life Insurance Corporation of India Ltd., to provide insurance coverage, as well as scholarship to 2 children of shepherd family studying in 9 to 12 standards @ Rs. 300 per qtr. per child, concomitant with the period of the insurance coverage.

The Scheme covers shepherd in the age group of 18 to 59 with an yearly contribution of Rs. 80 by the shepherd, Rs. 150 by Government of India and Rs. 100 through Social Security Fund by LIC, towards the premium. The Minister said that Gujarat is an important wool producing state with sheep population of 2.2 Million & wool production of 2.6 Million Kg. per year. So far 54,904 sheep and 1,607 sheep breeders have been provided insurance coverage in the Gujarat.

Shri Shankersinh Vaghela said that garmenting is an important segment of Indian Textiles Industry which employs around 5 million workers and has a great employment potential. The Apparel Training and Designs Centre (ATDC) is being opened at Godhra to provide training to both male and female apprentices to make them employable in the Apparel Industry. This measure will help in boosting the employability of local youth, said the Textiles Minister.

Shri Vaghela said that the Indian textiles industry is in a stronger position than it was in the last six decades, the textiles industry, which was growing at 3-4 percent during the last six decades, has now accelerated to an annual growth rate of 16 percent in value terms and will reach the level of US $ 115 billion by 2012. He said that the biggest achievement of the UPA Government was to turnaround the Indian Textiles from Sunset to Sunrise sector.

The rationalization of fiscal duties undertaken during the last three years has also provided a level playing field in all segments of the industry, resulting in the holistic growth of the industry.

The Minister said that the textiles sector has witnessed a spurt in investment during the last four years and the investments between 2004-08 were Rs. 1,04,506 crore and they are expected to touch Rs. 1,50,600 crore by 2012. This enhanced investment will generate 17.37 million jobs by 2012.

Must ReadView All

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Lynda Kelly
Suominen Corporation

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

Eamonn Tighe
Nature Works LLC

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Yash P. Kotak
Bombay Hemp Company

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search