;
Home / Knowledge / News / Textiles / Govt to back carpet industry with advance technology
Govt to back carpet industry with advance technology
19
Mar '08
At a press conference held at the Shri-Kashmir International Conference Center, Jairam Ramesh, Union Minister for Industry and Commerce and Dr Haseeb Drabu, Chairman Jammu & Kashmir (J&K) Bank and Economic advisor to the Government, disclosed about a mega proposal for the carpet industry and the power sector.

Of the Rs4000 crore carpet export made by India, J&K contributes about Rs1000 crore accounting for 25 percent of the total.

With regard to this industry, Mr Jairam Ramesh announced that the existing 40,000 carpet looms in Jammu & Kashmir will be replaced by new advanced ones to increase the productivity and quality of goods produced.

The Indian Institute of Carpet Technology (IITC) have developed these new looms which will replace the old ones in a period of five years.

The entire project will involve an investment of Rs85 crore of which 75 percent will be borne by the State and Central Government while the remaining 25 percent will be catered by the beneficiaries through loans from the J&K Bank.

Additionally, the Pashmina, Sozni and Kani shawl industry will also be protected through geographical indicator (GI) which acts like a logo or a brand.

It was revealed that the power sector of J&K would be made open to the public for raising funds for the establishment of 20,000 mega watt potential of hydro electricity in the state.

Moreover, Dr Drabu also revealed that a group of 19 foreign institutional investors (FIIs) had visited the state in search of an alternative investment destination in the state.

While addressing to the media, Mr Jairam gave details about the efforts taken by the Government as well as by the J&K Bank to make the state economy thrive.


Must ReadView All

Courtesy: Lululemon

Apparel/Garments | On 16th Dec 2018

Lululemon’s net revenue up 21% in Q3 2018

Lululemon Athletica Inc, a healthy lifestyle inspired athletic...

Courtesy: Walmart

Apparel/Garments | On 16th Dec 2018

Rakuten, Walmart start Walmart ecommerce store in Japan

Rakuten and Walmart have joined hands to start the first Walmart...

Courtesy: H&M

Apparel/Garments | On 16th Dec 2018

H&M Group's wage summit discusses fair wages

The textile and fashion industries were brought together by H&M Group ...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search