Textile sector growth may fall short of expectations

Image
BS Reporter New Delhi
Last Updated : Jan 29 2013 | 12:59 AM IST

The roadmap was jointly prepared by the ministry of textiles and various industry associations.

The ASSOCHAM in its study, "Indian Textile: Weaving a Global Spin", has warned that job prospects in the textile sector could stagnate at 19 million workforce as against the projected 65.4 million by 2010.

ASSOCHAM has urged the ministry of textile to ensure timely completion of the textile park projects made under the Scheme for Integrated Textile Parks and also to further open up the sector by reducing Customs duty on import of textile machinery and equipment to zero level in next 4-5 years.

The chamber said the global manufacturers and private equity funds should be encouraged to invest in partnership with the small scale manufacturers to boost investment in the sector.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 26 2008 | 12:00 AM IST

Next Story