The Textiles industry has witnessed an incipient turn around in financial year 2012-13 as cotton yarn prices have picked up and rupee depreciation has enhanced competitiveness.
Government addressed the slowdown in Textiles industry by proposing a debt restructuring package for textiles industry amounting to Rs.35000 crores Following consultations with Reserve Bank of India, Government has issued directions to Banks to open special windows for undertaking the debt restructuring of textiles industry on a case by case basis in accordance with prudential guidelines of Reserve Bank of India.
The plan allocation for the Ministry of Textiles under the Technology Upgradation Funds Scheme (TUFS) was revised from Rs. 8000 crores to Rs. 15404 crores in the 11th Five Year Plan. Government also enhanced the 11th plan allocation of Ministry of Textiles from Rs. 14000 crores to Rs.19000 crores for providing benefits to textiles industry.
The plan allocations in 2010-11 was to Rs. 4500 crores and 2011-12 was Rs. 5000 crores and 2012-13 Rs. 7000 crores.
Government implements the Scheme for Integrated Textiles Parks (SITP) which is aimed at establishing greenfield infrastructure for textiles industry and generate employment.
The SITP has a 12th Plan allocation of Rs. 1400 crores, 21 new parks were sanctioned in 2011-12 to generate an estimated investment of Rs. 3500 crores and employment of 3.5 lakh workers, over the next 4 years.
Government incentivizes investments in the Textiles sector under the Technology Upgradation Funds Scheme (TUFS) which is a backended interest re-imbursement scheme. TUFS catalyzed an investment of Rs. 1.37 lac crores in 11th Plan with a subsidy of Rs. 11949 crores.
Government formulates the cotton distribution policy on a yearly basis to ensure adequate raw materials security to domestic industry.
Ministry of Textiles
| On 5th Aug 2021
Economic activity in the US manufacturing sector grew in July, with...
UK consumer price inflation will reach 3.9 per cent early next year,...
| On 5th Aug 2021
Walmart has been again ranked the largest company in the world by...
Donating 20,000 N95 masks to hospitals & NGOs
Biggest learning was adaptability
Occam's razor principle and purpose-driven innovations
One of the first few Indian denim brands, Spykar, established in 1992, was ...
In the financial hub of eastern India, Kolkata, a humble production...
Mumin Can Eker
Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...
The Lenzing Group is an international company headquartered in Austria...
<div>RocketLife, an award-winning developer of breakthrough visual...
Garware Technical Fibres Ltd
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Sarah Denise Cordery
Sarah Denise Studio
Manchester, England-based Sarah Denise Studio provides relevant fashion...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.