Global financial meltdown affected India's textile industry badly, due to which last year's handloom and power loom production witnessed a downturn of 3.8 and 3.2 percent respectively, said a Union Minister.
As per the available provisional data, in the year 2008-09 production of handloom sector was 6,677 million sq. m. compared to 6,947 million sq. m. the year before, informed Minister of state for Textiles, Panabaka Lakshmi.
While, the production in mills witnessed a mere increase of 0.8 percent from 1,781 million sq. m. to 1,796 million sq. m., that of the hosiery sector increased by 2.3 percent.
In order to support the affected textile industry the government has undertaken number of schemes such as integrated handloom development scheme, marketing and export promotion scheme, handloom weavers' comprehensive welfare scheme and technology up-gradation fund scheme.
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