The Hindu Business Line : Action plan to help textile economy to reach $85 b

SPURRED by the turnaround in the textile industry during 2004-05, the Ministry of Textiles has come out with an action plan for the current fiscal to consolidate the gains already scored to help the textile economy grow from the current $37 billion to $85 billion by 2010.

Speaking to newspersons to announce the achievements of the Ministry during the first year of the Central Government and the tasks it has set itself to achieve this year, the Union Textile Minister, Mr Shankersinh Vaghela, said that the foremost task on hand was upgradation of the technologies used by industry through import, technological assistance to the sectors involved in textiles, and development of indigenous technologies.

"Secondly, the `Made in India' brand would be promoted globally and within the country since India and China are now the most important players in global textile business and the market within the country itself was very large."

The third focus would be on marketing skills and better positioning for the handlooms and handicrafts sector to take development to the larger segment of the people involved in textiles.

The Government is working on a cluster scheme to be unveiled soon and a marketing scheme for handloom fabrics on the lines of Silkmark.

Mr Vaghela also said that apparel parks, textile malls, handloom and handicraft clusters, and urban haats would be developed to help the sector grow rapidly.

Taking credit for a growth of 18.2 per cent in 2004-05 in domestic textile industry, Mr Vaghela said that all segments in textiles have registered robust growth.

The spun yarn segment clocked 5.5 per cent growth, the hosiery segment 14.7 per cent, and cloth production went up by 7.1 per cent.

Exports suffered a jolt, down 3.72 per cent at Rs 53,996.24 crore from Rs 56,082.21 crore in 2003-04.

The matter is being taken up at the highest level to redress the input credit grievances to industry so that operational viability is not affected.

Mr Vaghela said that the Ministry's vision was to increase the country's share in world textile trade from four per cent currently to eight per cent and achieve an export value of $50 billion in the next five years.

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