Confederation Indian Textile Industry (CITI) has drafted a major plan to increase production and speed up the development.
According to 11th Plan period investment of Rs 1,40,000 crore is required by 2010 to improve country's textile and garment exports from US $12 billion to $40 billion.
However, Nair, Head of Secretorial Department, told Fibre2fashion that the revised plan is to invest around 1, 90, 000 crore by 2012 to boost textile and garment export to $18 billion by 2010 and $50 billion till 2012.
He said size of the industry is expected to grow upto $85 billion by 2010 and to $110 billion by 2012.
Nair also revealed that this program will increase employment potential to 12 million by 2010. By 2012 the job opportunities will be around 14 million of which 6 will be direct and 8 million will be indirect openings.
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