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Textile sector to meet Govt committee to discuss crisis
22
Jul '09
The textile sector is expected to meet the Senate Committee on Industry to find recourse to the ills affecting the industry in the country along with discussing the disbursal of the long pending revival fund.

This meeting which has been initiated by the government will also have representatives from the banking sector along with representatives of the textile and cotton industry of the country.

The textile industry in the country is facing very distressing times, more so due to the illegal influx of fabrics and clothing, more so fake, due to which the number of textile mills has reduced from 175 in 1990 to just 25-30 today.

Even these 25-30 factories were running at below 50 percent of their operating capacity. According to experts, the sector has a capacity to generate 250,000 direct jobs and over a million indirect ones.

Industry experts have advised the government to ensure speedy disbursal of the N70 billion revival fund, before the whole sector collapses and after which revival may not be distinctly possible.

Fibre2fashion News Desk - India


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