Interviews
Textiles sector to generate 17.35mn employment opportunities
12 May '07
2 min read
The textiles sector is expected to attract an investment of Rs. 1,50,600 crore by the end of 11th Plan and it would generate employment opportunities for a 17.35 million workforce, of which 5.2 million will be skilled.
This was informed by the Minister of Textiles, Shri Shankersingh Vaghela to the Members of Parliamentary Consultative Committee attached to his Ministry.
Shri Vaghela said that investment in the textile sector has picked up and it is estimated that the total investment in the textiles and clothing industry between 2003-07 was around Rs. 72,542 crore.
He said that the growth of industry has now accelerated to 9-10% per annum and it is expected to rise to 16% in coming years. Textiles exports are expected to grow 22% and would reach US $ 55 billion by the year 2012, he added.
Talking about the Scheme for Integrated Textiles Parks (SITP) launched in 2005, Shri Vaghela said that thirty Integrated Textiles Parks would be set up by 2008 with an investment of Rs. 15,700 crore. These parks would generate an annual production of Rs. 23,600 crore, and create half a million new jobs. The allocation for the scheme has been enhanced from Rs. 189 crore in 2006-07 to Rs. 425 crore in 2007-08, he added.
He also informed to the Members that the National Textiles Policy, 2000 envisaged textiles and apparel exports would reach US $ 50 billion by 2010. The share of garments was envisaged to be US $ 25 billion.
The Members were informed that the Technology Upgradation Fund Scheme (TUFS) has already been extended till 2012 and in the 10th Five Year Plan, Rs. 1,270 crore were allocated and Rs. 2,044.19 crore were disbursed, which exceeded the plan target. From its inception i.e. 1st April, 1999 till 28th February, 2007, 8,595 applications were received involving, a project cost of Rs. 81,371 crore, 8,312 applications were sanctioned at an estimated cost of Rs. 73,532 crore and Rs. 20,953 crore was disbursed against 5,956 applications.
The allocation on account of interest support was increased from Rs. 485 crore to 535 crore in 2006-07, registering an increase of approximately 10% and Rs. 911 crore has been provided for 2007-08.
Earlier the Minister welcomed the suggestions raised by the Members. The Members present in the meeting were Shri D. Vittal Rao (Lok Sabha) and Shri K. Santasri Chatterjee (Lok Sabha).
This was informed by the Minister of Textiles, Shri Shankersingh Vaghela to the Members of Parliamentary Consultative Committee attached to his Ministry.
Shri Vaghela said that investment in the textile sector has picked up and it is estimated that the total investment in the textiles and clothing industry between 2003-07 was around Rs. 72,542 crore.
He said that the growth of industry has now accelerated to 9-10% per annum and it is expected to rise to 16% in coming years. Textiles exports are expected to grow 22% and would reach US $ 55 billion by the year 2012, he added.
Talking about the Scheme for Integrated Textiles Parks (SITP) launched in 2005, Shri Vaghela said that thirty Integrated Textiles Parks would be set up by 2008 with an investment of Rs. 15,700 crore. These parks would generate an annual production of Rs. 23,600 crore, and create half a million new jobs. The allocation for the scheme has been enhanced from Rs. 189 crore in 2006-07 to Rs. 425 crore in 2007-08, he added.
He also informed to the Members that the National Textiles Policy, 2000 envisaged textiles and apparel exports would reach US $ 50 billion by 2010. The share of garments was envisaged to be US $ 25 billion.
The Members were informed that the Technology Upgradation Fund Scheme (TUFS) has already been extended till 2012 and in the 10th Five Year Plan, Rs. 1,270 crore were allocated and Rs. 2,044.19 crore were disbursed, which exceeded the plan target. From its inception i.e. 1st April, 1999 till 28th February, 2007, 8,595 applications were received involving, a project cost of Rs. 81,371 crore, 8,312 applications were sanctioned at an estimated cost of Rs. 73,532 crore and Rs. 20,953 crore was disbursed against 5,956 applications.
The allocation on account of interest support was increased from Rs. 485 crore to 535 crore in 2006-07, registering an increase of approximately 10% and Rs. 911 crore has been provided for 2007-08.
Earlier the Minister welcomed the suggestions raised by the Members. The Members present in the meeting were Shri D. Vittal Rao (Lok Sabha) and Shri K. Santasri Chatterjee (Lok Sabha).
Press Information Bureau Government of India
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