New Plan To Revive Ntc Mil

This was announced by Union textile minister R L Jalappa at the economic editors meet here yesterday. The Rs 2,005 crore package approved in 1994 has failed to take-off since the required funds could not be mobilised.

The minister explained that the funding of the earlier plan depended on sale of excess land with the mills, of which 80 per cent was to come from Mumbai alone.

The plan ran aground when the authorities concerned refused clearance to the proposed sale of land. NTCs losses stand at a staggering Rs 4,798 crore.

Outlining the textile strategy for the ninth plan, the minister said the focus will be on revival of textile modernisation fund, modernisation of weaving and processing and promotion of high-quality exports, besides setting up of a cotton technology mission to improve productivity and quality.

 

He said eight textile research associations for research and development in cotton, cotton blends, man made fibres, silk and jute were already in operation.

The minister pointed out that against the 9.8 per cent growth in Indias overall exports, textile exports registered a 15 per cent growth in the first six months to achieve 48.3 per cent of the 1996-97 target of $11.8 billion.