Textiles industry to attract Rs1500 bn investment by 2010

May 19, 2008 (India)

The last four years have proved to be a defining period for the Indian textiles industry. In the face of testing global conditions, the Ministry of Textiles, has stayed the course by introducing timely policy changes and innovative programmes, aimed at spurring growth and development across the organised and unorganised sectors of the industry.

Driven by the vision for providing all possible support the textiles needs and to create more jobs, to modernized the Ministry’s catalytic role in increasing investment, introducing modern technologies and providing marketing support have borne rich fruit.

TEX-SUMMIT 2007:
The first ever "TEX-SUMMIT 2007" was organised (August 31–September 1, 2007) in association with the industry to deliberate on problems facing it.

The Prime Minister, Dr. Manmohan Singh, in his valedictory address to the Summit announced (i)Technology Mission on Technical Textiles,(ii) Setting up of Investment Regions for the Textiles Sector, (iii) the finalization of Scheme of Neighbourhood Apparel and Textiles Training Institutes for Job Assurance (NATIJA) to train 4 million workers, (iv) the revitalisation of Handloom Cooperatives on the pattern of agricultural cooperatives and devising a strategy to expand market, diversify and realise greater value for textiles products.

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