The Minister of State for Textiles, Shri E.V.K.S. Elangovan, informed the lower house in the Parliament of India, in a written reply to a question by Dr. Dhirendra Agarwal & Shri Harikewal Prasad that the government is aware of the need for increasing investment in the textile sector so as to modernize the textile industry and to make it internationally competitive.
The investment required to modernize the textile industry is estimated at about Rs. 1,50,600 crore during the 11th Plan period, bulk of which has to come from the private sector. Major plan schemes such as Technology Upgradation Fund Scheme (TUFS), Scheme for Integrated Textile Parks (SITP) etc. are accordingly designed in such a way as to encourage private investment in the textile sector. Under TUFS, the total project cost sanctioned as on 31.03.2007 is Rs. 86020 crore.
The Minister further informed that the financial targets in terms of plan expenditure during the last three years have been, by and large, achieved. However, no specific targets for employment generation have been fixed. It is expected that enhanced investment in the textile sector would lead to creation of additional employment.
The investment required to modernize the textile industry is estimated at about Rs. 1,50,600 crore during the 11th Plan period, bulk of which has to come from the private sector. Major plan schemes such as Technology Upgradation Fund Scheme (TUFS), Scheme for Integrated Textile Parks (SITP) etc. are accordingly designed in such a way as to encourage private investment in the textile sector. Under TUFS, the total project cost sanctioned as on 31.03.2007 is Rs. 86020 crore.
The Minister further informed that the financial targets in terms of plan expenditure during the last three years have been, by and large, achieved. However, no specific targets for employment generation have been fixed. It is expected that enhanced investment in the textile sector would lead to creation of additional employment.
