Textiles sector attracts Rs 64,000 cr investment

Shankarsinh Vaghela, Union Minister for Textiles, claimed that the textiles sector, which was considered as a 'Sunset sector' earlier, has emerged as a Sunrise sector within the last three years because of the continued government support. The sector has attracted more than Rs 64,000 crore investment within these three years, he said.

Talking to reporters here on the efforts carried out by the United Progressive Alliance (UPA) government and the growth the sector has registered, Vaghela said, "At the time UPA government was formed the textiles sector was considered a 'Sunset sector'. So, to revive the sector, we paid extra attention on providing the sector a thrust through various schemes like Technology Upgradation Funds Scheme (TUFS) and the promotion of integrated textiles parks."

The result is after three years the sector has attracted a total investment of Rs 64,478 crore. In 2004-05 the UPA government bagged investment worth Rs 11,628 crore in the textile industry. The investment increased to Rs 31,000 crore during 2006-07. The total investment in the textile sector, including clothing industry, has increased to Rs 64,478 crore from 2004 to 2007.

Talking about Gujarat, he said that out of the total investment made in the textile industry, 22 per cent has flowed into textile industry of Gujarat.

Vaghela said, "As per the ministry estimates these parks will attract investment around Rs 15,434 crore and also create half a million new job opportunities. He also said that in the 11th plan many more parks will be set up. The textiles ministry will be setting up total 50 integrated textile parks. Out of that 30 have been already sanctioned by the government."

Vaghela also said that seven of the textiles parks will come up in Gujarat, while Tamil Nadu, Andhra Pradesh, and Rajasthan will have 6, 4 and 6 textiles parks respectively.

Talking about the revival plans of the mills run by National Textiles Corporation (NTC) Vaghela said that the Ministry has started revival of 18 textile mills. "We have already ordered machineries worth Rs 90 crore for the upgradation and modernisation of these mills."

The Ministry is also setting up a Handloom Plaza in Ahmedabad with an estimated investment of Rs 100 crore. "The Textiles Ministry has already floated tenders for this," Vaghela said.

Moreover, the Ministry has also started setting up two design centres in Gujarat in collaboration with National Institute of Fashion Technology, Gandhinagar.This project is aimed at boosting up the handloom sector. The centres will come up at Ahmedabad and Bhuj.