Business Daily from THE HINDU group of publications
Wednesday, Sep 20, 2006
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Textiles
Govt may extend TUFS up to 2010

Our Bureau

Textile sector call for further reforms


Mr Shankersinh Vaghela (right), Minister for Textiles, with Mr B.K. Patodia, Chairman, Texprocil, at a function in Mumbai on Tuesday. - Paul Noronha

Mumbai , Sept. 19

, Mr Shankersingh Vaghela, Union Minister of Textiles, on Tuesday indicated that the Government was considering extension of the Technology Upgradation Fund Scheme (TUFS) up to 2010 to further shore up the Indian textile sector.

Speaking at a function to distribute the Texprocil export awards, the Minister lauded the performance of the textile companies, assuring them that the Government will go all out to thrash out issues facing the industry.

"This sector used to be the sunset sector. But with the help of Government policies and your ambition, it has turned into a booming industry today," Mr Vaghela said.

Speaking on the occasion, Mr B.K. Patodia, Chairman of Texprocil, said the cotton textile sector has surpassed the export target of $4,200 million set for 2005-06.

Exports of cotton textiles and clothing have recorded a growth of 27.56 per cent, rising from $14 billion in 2004-05 to $17 billion in 2005-06. This growth is being driven by the increase in exports of home textiles and cotton yarn, which have grown by over 39 per cent and 27 per cent respectively.

More reforms needed

However, Mr Patodia stressed the need for further reforms. "There is an urgent need to address labour and power issues as well as a need to reduce transaction costs, as all this is affecting our competitiveness," he said.

A report on `Cost Competitiveness in textile manufacturing' prepared by Gherzi-Textil organisation, Zurich, was released on the occasion. This report gauges the competitive abilities of India vis--vis other countries.

In recognition of the role played by the cotton textiles exporting community in developing and diversifying India's exports of cotton textiles, the Cotton Textiles Export Promotion Council (Texprocil) grants awards for outstanding export performances every year.

The winners this year include Arvind Mills, Mahavir Spinning Mills Ltd, Spentex Industries and Welspun India Ltd for categories such as highest global exports, highest manufacturer exporter - yarns, made-ups and fabrics.

More Stories on : Textiles | Modernisation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Policy soon on river pollution


Households investing more in stocks, MFs
Karnataka mulls welfare board for building workers
International Furniture Fair in Germany
LG Electronics launches new products in Gujarat
`India will soon become manufacturing hub'
India demands greater say in IMF decision-making process
Philippines seeks investment from Indian software cos
N. Ireland trade team visiting Bengal to seek tie-ups
Medical tourism and its side-effects
SUT to hold cardiac camp
Growth-Link plans to set up Rs 300-crore SEZ in TN
Kinfra invites EoIs for gem & jewellery SEZ
STC posts Rs 3,000-cr turnover in Apr-Aug
Oil blocks: DGH forming teams to evaluate bids
ONGC to pay 200 pc final dividend, issue 1:2 bonus in Nov
Petrol pump dealers' strike in Maharashtra called off
NTPC plans to treble capacity to 75,000 MW by 2017
Consumers want TNEB to be industry-friendly
Power crisis hurting AP industries, says AIMO
Investments by regional SEs in arm tax-exempt
Coimbatore motor parts dealers seek VAT reduction
Govt may extend TUFS up to 2010
`JK Tyres, Ceat, Birla to roll back tyre prices by 4-5 pc'
`Water revolution' sees arid Kutch bloom
Kerala reiterates stand on Mullaperiyar dam height
RMM to set up school in Mumbai
Porsche lets you customise your car
Indian realty sector emerging global investors' choice: Survey
Nilkamal Plastics to enter realty biz
India Knit Fair to open in Tirupur next month
Vizag cinema strike continues
EU plans tax law changes to hone competitive edge
`Take a leaf out of LCA project'
Cap sought on vanaspati imports from Lanka
`Details of foreign buyers in shipping bills not needed'
AP on alert as fresh rains claim 14 lives
Floods, cyclones wreck AP coastal farms, dairies


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line