Home / Knowledge / News / Textiles / Maran welcomes textiles related budget proposals

Maran welcomes textiles related budget proposals

27
Feb '10
Thiru. Dayanidhi Maran, the Union Textiles Minister, has hailed the Budget Proposals-2010-11 presented in Parliament. The Minister said that these initiative for the textiles sector as a growth spurring initiatives , which dovetail with economic revival, infrastructure development, agriculture development, inclusive growth and restoring export growth.

The Minister said that he is satisfied that National Security Fund has been created which will take care of 65 lakh handlooms weavers. The Minister further said that the capitalization of Regional Rural banks likely to help primary cooperative societies lending to Handlooms sector and doubling of corpus of Micro Finance Development Equity Fund from Rs. 200 crore to Rs. 400 crore will help the artisans and weavers. These measures recognizes the role of handlooms and handicrafts in providing employment as well as an instrument to preserve the magnificent and ancient textiles traditions of our country, Thiru. Maran added..

Thiru Maran said that the interest subvention of 2% on pre-shipment credit for export of handlooms, carpets, small & medium enterprise of textiles sector products has been extended by a year till March 31, 2011.

The Minister said that shortage of skilled manpower is a major constraints faced by the textile industry. We propose to launch an Integrated Skill Development Scheme to impart employable skills along with job guarantee to 30 lakh persons over a period of five years, said the Minister. The initiative will cost Rs. 2,214 crore and the Planning Commission had approved Rs. 229 crore for the remaining period of XIth Five Year Plan. The private sector will play a major role in this initiative and we will leverage resources within the existing scheme, said the Minister. Thiru Maran expressed happiness that Finance Minister has included this initiative in Budget Speech, as this initiative will help to address the skill deficit and will ensure that the textiles sector take a quantum jump and reach US$115 billion by 2015.

The Minister also hailed the initiative of Finance Minister to provide one time grant of Rs. 200 crore to 20 Common Effluent Treatment Plant (CETP) installed by dyeing units in Tirupur,Tamil Nadu. This measure will supplement the efforts of Government of Tamil Nadu which had already provided support of Rs. 120 crore. The Minister said that Tirupur is the leading export centre mainly for hosiery and provide employment to approximately 5 lakh workforces and this measure will ensure protection of employment and smooth production and export of knitwear from Tirupur.

The Minister said that our recent initiatives for attraction FDI in textiles sector have been lauded in the Economic Survey 2009-10 and Foreign Investment will help us to modernize textiles and clothing industry and aid its integration into the global textiles market.

The Minister said that we had recommended to theMinister of Railways to use Jute Geo Textiles for their track repair and for laying of new tracks, it can save the maintenance cost by about 50%. The projected use of Jute Geo Textiles in one year alone would be about 35 thousand MT valued at Rs. 132 crores per annum and will benefit the Jute industry and farmers. This will also save the railways, to large extent, maintenance cost, said the Minister.


Must ReadView All

Pic: Shutterstock

Textiles | On 28th Mar 2020

Worldwide lockdowns, stimulus shots, raised PPE production

The global response this week to the unfolding COVID-19 crisis saw...

Pic: Shutterstock

Apparel/Garments | On 28th Mar 2020

Vietnam may outdo Bangladesh as 2nd largest RMG exporter

Though Bangladesh is now the second-largest garment exporter...

Pic: Shutterstock

Textiles | On 28th Mar 2020

Morgan Stanley rules out economic depression

With COVID-19 badly damaging the global economy, Morgan Stanley...

Interviews View All

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


March 2020

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


Advanced Search