CCEA approves plan to set-up 25 Integrated Textile Parks

26 Jul '05

2 min read

The Cabinet Committee on Economic Affairs (CCEA) approved the Scheme for Integrated Textile Parks for creating up to 25 Integrated Textile Parks for Export.

It also approved the budget allocation of Rs. 625 crores in 2005-06 and 2006-07 for the scheme as contribution of the Government of India.

The Scheme will create up to 25 textile parks of international infrastructure to house approximately 1,250 state-of-the-art textile units, which will lead to substantial increase in the textile exports.

It will facilitate private investment of Rs. 18,500 crores in the sector and will help creating five lakh new jobs.

The approval of CCEA has been sought for reformulation of the schemes for creating export infrastructure – namely the Scheme for Apparel Parks for Exports (APE) and the Textile Centre Infrastructure Development (TCID) – by merging the two into a Scheme for Integrated Textile Parks with enhanced allocations – in order to fast-track the implementation so as to benefit from the open world trade in textiles from 2005 onwards.

With a view to take advantage of the phasing out of quantitative restrictions from 2005 and to provide world class export infrastructure, CCEA accorded approval to the APE Scheme on March 23, 2002 and TCID Scheme on March 8, 2002. Subsequently, on November 25, 2002, CCEA approved the proposals for effecting modificiations in scope and funding pattern of TCID Scheme.

Whereas the APE Scheme was to create exclusive export zones of excellence of apparel manufacturing, the TCID Scheme was to modernize and fill in the gaps in the existing infrastructure at the existing major textile centers so as to remove the impediments to production. Both the schemes were designed to make the Indian textile industry globally competitive.

More Textiles News - India...