Textile sector on upswing under UPA government: Vaghela

Ahmedabad, May 25 (UNI) Textiles Minister Shankarsinh Vaghela today said the textiles sector had registered an impressive growth and investments were expected to touch Rs 1,50,600 crore by 2012.

A number of steps were initiated after the termination of Multi-fibre Arrangement (MFA) during 2004 and the textile industry had achieved a growth of 22 per cent in the first year post MFA 2005-06 and was expected to touch 19.22 billion dollar in 2006-07, the minister told reporters here.

Vaghela claimed the achievements in the textiles Sector during the three years of the UPA government were 'impressive and path breaking' and said the government had reaffirmed its resolve to restructure and make the sector competitive.

He said with the enhanced investments, 17.37 million jobs would be generated by 2012, constituting 12.02 million direct and 5.35 million indirect jobs in the sector.

In the very first year of the UPA government, an amount of Rs 11,628 crore has come in the way of investment which had climbed nearly three times to Rs 31,000 crore, he said.

Mr Vaghela said the government has launched the scheme for integrated textiles Parks (STIP) mainly to strengthen infrastructural facilities in potential growth areas and had sanctioned 30 textiles parks across the country in which seven are located in Gujarat itself.

Textile parks will attract an estimated investment of Rs 15434.60 crore which will create over half a million new employment.

To provide resources to the textile industry for its modernisation, the minister said the government has decided to continue the technology upgradation fund scheme. The scheme had so far attracted 8,595 applications till February 2007, involving an investment of Rs 81,371 crores.

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