Home / Knowledge / News / Textiles / Textiles Industry to achieve 16% growth rate by 2012
Textiles Industry to achieve 16% growth rate by 2012
13
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

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

Apparel/Garments | On 28th Jul 2017

Columbia Sportswear posts Q2 2017 net sales of $398.9 mn

Columbia Sportswear Company has recorded net sales of $398.9 million...

Textiles | On 28th Jul 2017

Dickies & Prana to show HeiQ textile products at OR expo

American apparel brands, workwear leader Dickies and activewear brand ...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

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

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

July 2017

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

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

Yes No

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

Yes No

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


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



X