INDIA: Government highlights plans to grow textile sector.

India's textiles sector has seen a significant recovery despite the global financial crisis and rising prices, the Ministry of Textiles claimed this week, as new plans were laid out for the industry's future development.

Despite the global slowdown, India's textile exports increased their share of the country's total exports to 12.05% from 10.82% in 2008-09, according to union textile minister Dayanidhi Maran.

However, there was no mention of figures released earlier this month by the Apparel Export Promotion Council (AEPC) which showed the value of the country's garment exports fell by 2.6% to US$10.6bn in the year to March.

Among the achievements listed in a booklet on 'Milestones 2009-10,' the first year of the United Progressive Alliance (UPA)-II government, are the release of INR25.46bn (US$543.7m) under the Technology Upgradation Fund Scheme (TUFS), government grants for 17 integrated textile parks, and a 'Look East Policy' launched to tap new markets outside the EU and US.

As part of the agenda for the future, Maran plans to modernise the weaving, knitting and processing sectors by refocusing the TUFS scheme here, as well as support the setting up of additional integrated textiles parks and boosting investment in non-woven and technical textiles.

Also on the agenda is attracting Foreign Direct Investment (FDI), particularly in textile machinery and in garment making, synthetic and technical textiles.

Maran has also pledged to "ensure fibre security for the Indian textiles industry" by supporting the farming community as well as providing "international standard fibres for downstream segments of textiles at globally competitive prices including that of cotton."

In April, the Indian government announced it was banning exports of raw cotton that had not already been registered in an attempt to stem rising prices and cotton shortages in the domestic market.

While this complete ban was lifted in late May, exports are still only be allowed with a licence from India's directorate general of foreign trade.

Source :- just-style.com/news