Textile Min seeks large allocation for parks in 12th plan

The Textile Ministry has sought larger allocation for integrated textile parks in the 12th Five-Year Plan, a senior official said here.

"We have 40 textile parks and are hopeful of getting sanctions for 20 new parks this year. In the 12th Five-Year Plan, we want large allocation for integrated textile parks," Ministry of Textiles Secretary Rita Menon told reporters on the sidelines of National Garment Fair here.

The ministry has already received 55 applications for the proposed 20 new parks.

The setting up of textile parks is a successful format as it has attracted Rs 29,000 crore investment, of which only Rs 1,440 crore is received from the government, Menon said.

The ministry is hopeful of 25% increase in allocation in the 12th plan over the 11th plan, she said.

Menon is confident that the apparel exports, is likely to pick-up again as it had shown upward trend in Q4 of FY11.

The technical textile is expected to see 20% growth in FY12, she said.

Talking about the slowdown in exports and production cut in May, she said it was due to the 10% excise on branded goods and weakness in US and European Union.