Textile mills to be modernised with Rs 78 crore: Elangovan

Coimbatore, July 10 (UNI) Union Minister of State for Textiles E V K S Elangovan today said 22 National Textile Corporation(NTC)-owned textile mills out of 52 will be modernised and the Central Government has earmarked Rs 78 crore for the purpose.

Talking to newspersons here after visiting some NTC mills here, he said orders for the machineries had been placed with China.

Mr Elangovan said the Coimbatore-based Murugan mill will get Rs 12 crore worth modernised machines and six mills, which were running at a loss here earlier have turned out to be profit-oriented.

He said efforts were on to bring private participation to reopen closed mills with modification plans. Six months ago the Government has proposed a plan to attract private participation to the closed mills, but the response was negative, he added.

He said a new plan was on the anvil, but the investor could be either from India or abroad.

He said steps will be taken to provide loan to the textile industry under the Technology Upgradation Funds(TUF) scheme.

Exports from India is increasing every year and in five to six years employment generation to the agricultural sector which is 65 per cent will come down to 50 per cent, a difference of 15 per cent, which will be met by the textile sector, he added.

UNI KS KVV 1925