Govt to create 1 cr jobs in textiles sector: Maran

The UPA government will work on creating one crore new jobs in the textiles sector and attract an investment of Rs 1.55 lakh crore in the next five years, Textiles Minister Dayanidhi Maran said after taking charge.

"We will equip the textiles industry to withstand the pressure of import penetration and maintain its dominance in the domestic market," Maran said here today.

Maran, whose tenure as IT and Telecom Minister was cut short in the previous government, has said this tenure is going to last for five years.

"My agenda of creating one crore additional employment is for five years. I want to complete my five-year term this time," he said.

When asked whether he was happy with the ministry allocation given the fact that the industry and telecom consumers were expecting him to come back in the IT ministry, Maran said, instead of spectrum there would be "a spectrum of colours" in his new job.

He said the target would be to work for an annual growth of 8 to 10 per cent in the $52-billion industry.

India's textiles industry, which employs largest number of people after agriculture, is going through a tough time with sharp fall in exports.

Maran said with exports on decline, the emphasis would be on increasing the domestic consumption.