Home / Knowledge / News / Textiles / Handloom sector needs huge investment – Trade body chief
Handloom sector needs huge investment – Trade body chief
18
Jul '09
The Indian Handloom Industry is eyeing to capture the market worth of US $15 billion by the year 2014, said Mr. D. Narasimha Reddy, Secretary General of The Chamber of Handloom Industry and Commerce (CHIC) said.

In order to swell the handloom production from 7,000 million sq. m. to 14,000 million sq. m. by 2014, the need for an investment of Rs. 5,000 crore has been emphasized by the Chamber of Handloom Industry and Commerce (CHIC).

Mr. Reddy further informed that by 2012, the domestic household market potential is estimated to be $60 billion while the Free On Board (FOB) value of exports at $50 billion.

The industry has the potential to employ additional ten million people from poor and backgrounds and it is expected that the allied sectors also can provide indirect employment to about five million people.

He added that the handloom production had stabilized through market support and cluster development programs after the series of suicides across the country.

He said to make the sector globally competitive, the Technology Upgradation Fund Scheme (TUFS) should be extended by the government for handloom industry till 2012 and should reduce the cost of working capital.

Government should also establish handloom parks along with investment accelerations in the marketing segment and, should strengthen domestic textile market regulation through Indian Textile Labeling Act (ITLA) for it, added Mr. Reddy.

He further urged the government to review the National Textile Policy 2000, to modify the programs for handloom support institutions and also to encourage efficient handloom cooperatives by increasing import duty on silk fabric and decreasing it on silk yarn.

Textile industry's market size potential, by the year 2012 is $110 billion, and it would grow at more than 13 per cent per annum, he added.

Fibre2fashion News Desk - India


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Ravindra Jain, Ashish Baid

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

Harmeet Singh

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ashok Desai
Bombay Textile Research Association

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

Eric Scholler
Groz-Beckert

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Bani Batra

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

Vaanee Bhatia
Gritstones Clothing

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

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