India : Relief measures for textiles extended further

Textiles Sector has been identified as one of the priority sectors having high growth potential and higher multiplier effects for employment generation.
Timely policy intervention can boost the competitiveness of this sector manifold, as the growth impetus prevailing in the sector is vibrant.
Textile and Clothing industry plays a dominant role in the country’s economy and has a prominent position in the textile world.
It has a total market size of US $52 billion and accounts for 26% of the manufacturing sector, 20% of industrial production and 18% of industrial employment.
It contributes 15% to gross export earnings and 4% to national GDP. It provides direct employment to about 35 million persons.
Besides, another 50 million people are engaged in allied activities. Market size potential for the industry is envisaged at USD 115 bn by FY 2012.
One of the major events that took place during the year under review, was the organization of the two-day Tex-Summit 2007 by the Ministry of Textiles, actively supported by industry associations, etc.
The aim was to involve the stake holders in formulating the appropriate programmes and policies, consistent with the emerging global challenges.
The Summit was held not only to highlight the critical issues the textile industries had been faced with but to suggest the ways and means to surmount the perilous industry situation as well as to gear up for the global competitive trade requisites

Textiles Sector has been identified as one of the priority sectors having high growth potential and higher multiplier effects for employment generation.
Timely policy intervention can boost the competitiveness of this sector manifold, as the growth impetus prevailing in the sector is vibrant.
Textile and Clothing industry plays a dominant role in the country’s economy and has a prominent position in the textile world.
It has a total market size of US $52 billion and accounts for 26% of the manufacturing sector, 20% of industrial production and 18% of industrial employment.
It contributes 15% to gross export earnings and 4% to national GDP. It provides direct employment to about 35 million persons.
Besides, another 50 million people are engaged in allied activities. Market size potential for the industry is envisaged at USD 115 bn by FY 2012.
One of the major events that took place during the year under review, was the organization of the two-day Tex-Summit 2007 by the Ministry of Textiles, actively supported by industry associations, etc.
The aim was to involve the stake holders in formulating the appropriate programmes and policies, consistent with the emerging global challenges.
The Summit was held not only to highlight the critical issues the textile industries had been faced with but to suggest the ways and means to surmount the perilous industry situation as well as to gear up for the global competitive trade requisites