The Textile Sector

The investments in the textile sector are expected to touch Rs 1,50,600 crore by 2012, creating 17.37 million new jobs. Shanker Singh Vaghela said the Plan allocation for textiles was increased by 11.45% in 2008-09. The textile exports that were on a down trend due to rupee appreciation are on the upswing due to timely remedial measures by the government. The textile exports, which stood at $20.5 billion in 2007-08 is expected to increase by 20% in the current fiscal.
Vaghela also said that the technology upgradation fund scheme (TUFS), which has been extended during the 11th Plan, has attracted 17,043 applications, involving an investment of Rs 1,21,396 crore.He said that 30 integrated textiles parks had been sanctioned under the scheme for integrated textiles park (SITP), and these parks on operationalisation will attract an investment of Rs 17,000 crore, creating employment for 5.75 lakh workers and would produce textile products worth Rs 27,400 crore per annum. All these parks will start operations by the end of 2008-09 while ten additional parks would be set up by 2012 under SITP.