Business Daily from THE HINDU group of publications Tuesday, Jun 19, 2007 ePaper |
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Industry & Economy
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Textiles Centre to implement Rs 96-cr scheme for technical textiles Our Bureau
Details Scheme includes infrastructure support. Synthetic and Art Silk Manufacturing Industries Research Association is nodal implementing agency. Centre will also encourage global manufacturers to set up units here.
Coimbatore June 18 The Union Government will run during the Eleventh Plan period the scheme for the development and growth of technical textiles (SDGT) at an outlay of Rs 96 crore to promote indigenous manufacture of technical textiles, according to the Union Minister of State for Textiles, Mr E.V.K.S Elangovan. The scheme would also provide infrastructure support by setting up centres of excellence for manufacture of technical textiles, the Minister said. Speaking at the inauguration of a three-day international conference on technical textiles at Kumaraguru College of Technology here on Monday, Mr Elangovan detailed several growth potential for the development of non-woven/technical textiles in the country. He said the benefits of the technology upgradation fund scheme (TUFS) the Centrally sponsored financial assistance scheme for the textile sector were being extended to technical textiles and it was the Government's endeavour to provide a regulatory framework for the development of this frontier technology. To accelerate this sub-sector's growth, the Centre had designated the Synthetic and Art Silk Manufacturing Industries Research Association (SASMIRA) as the nodal agency for technical textiles by entrusting the latter to initiate supportive actions, including assessing product applications, market development, and R&D back-up and training, he added.
FDI in textile machinery
Mr Elangovan pointed out that the Union Government would encourage foreign direct investment in the textiles machinery sector in India by encouraging global manufacturers to set up their units here, as has been done in China. Though the domestic textile machinery manufacturing sector is projected to triple its capacity between 2007-2012, it is felt that even these enhanced capacities would not be sufficient to meet the demands of the industry. Hence, the move to encourage FDI in the machinery sector. The international conference is being organised in support of the association of the non-woven fabrics industry (INDA), USA.
More Stories on : Textiles | Modernisation | Textile Machinery | Foreign Direct Investment
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