Textile industry is likely to be a magnet for an investment of Rs5951 crore in 2006-07. The spinning sector would take the major chunk of investment with Rs2201 followed by processing sector picking up Rs1581 crore.
According to Confederation of Indian Textile Industry (CITI), after quota elimination in 2005, majority of composite mills had embarked on ambitious expansion, modernisation and capacity building plans.
These companies would make major investment in spinning, home textiles, processing and garmenting.
From Rs2201 crore to be invested in spinning sector, 65 percent will be allotted to capacity building; 25 percent and 4 percent will be to modernisation and forward integration, respectively.
Competitiveness, which is expected to bolster the demand for yarn, will offer a major thrust to the spinning sector.
Other two segments — processing and weaving — are estimated to attract investments worth Rs1581 and Rs888 crore, respectively.
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-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
