Textile industry to grow at 7-8 percent: Maran (Second Lead)

October 7th, 2009 KOLKATA - The central government has constituted a working group to formulate a National Fibre Policy (NFP) by the end of the year, Textiles Minister Dayanidhi Maran said Wednesday. "Hopefully, by the end of this year, a comprehensive policy on all fibres will be in place," Maran said during a seminar with the industry players here.

September 10th, 2009 NEW DELHI - The Sardar Vallabhbhai Patel Institute of Textile Management in Coimbatore will be upgraded and renamed Indian School of Textiles, the government announced Thursday. "The school will engage itself in research and will also undertake comprehensive consultancy services for the industry, Textiles Minister Dayanidhi Maran told reporters here.

September 8th, 2009 NEW DELHI - Union Textile Minister Dayanidhi Maran will inaugurate the Gujarat Eco Textile Park setup under the Scheme for Integrated Textile Parks (SITP) at Surat on Wednesday. The park has been set up in an area of 104 acres, at a cost of Rs.

August 31st, 2009 NEW YORK - India's exports to the US can increase by $1.5-billion if it made an effort to bail out the ailing textiles sector, according to Textiles Minister Dayanidhi Maran, now on an official visit to the US. "My visit will help exporters grab a large chunk of the market, which is expected to rebound by 2010 and 2011, Maran said Sunday while inaugurating the India Pavilion at "Sourcing Magic" fair in Las Vegas.

August 12th, 2009 NEW DELHI - The government Wednesday said it expected investments of Rs.5,000 crore and employment of nearly three lakh in the technical textiles sector by 2012. "The segment has a potential to attract investments and create additional employment opportunities in the coming years, Textiles Minister Dayanidhi Maran told reporters after launching a website -- www.technotex.gov.in -- that will meet the information needs of stakeholders.

August 7th, 2009 NEW DELHI - India has released 53.5 million dollars of subsidies to textile firms to upgrade their technology. This was disclosed by Union Textiles Minister Dayanidhi Maran while addressing a press conference here on Thursday.

July 15th, 2009 NEW DELHI - The government is promoting an export policy regime for the textiles industry that will cover all potential markets including South East Asia, said Textiles Minister Dayanidhi Maran Wednesday. The government is also promoting textiles mega shows in potential markets.

July 7th, 2009 NEW DELHI - Welcoming the general budget 2009-10, Textiles Minister Dayanidhi Maran Tuesday said some more announcements on empowerment of weaker sections and facilities for the growth of medium and small scale enterprises in the sector will be made soon. "We are going to converge with certain other announcements, particularly empowerment of weaker sections, welfare of workers in the unorganised sector and facilities for the growth of medium and small scale enterprises to utilise fully the assistance under schemes outlined in the budget, Maran told reporters here.

June 28th, 2009 NEW DELHI - The textile industry can heave a sigh of relief as the government plans to make available cotton at international prices that are 10-15 percent lower than the domestic cost of the fibre. Textiles Minister Dayanidhi Maran said that though paying the minimum support price (MSP) is an obligation which the country owes to the farmers, the textile industry will be insulated from the high cost.

June 24th, 2009 NEW DELHI - The government will spend Rs.1,100 crore (Rs.11 billion) annually till 2012 to provide subsidies and upgrade technology to the textile sector, Textiles Minister Dayanidhi Maran said here Wednesday. The Technology Upgradation Fund Scheme (TUFS), which was launched to improve competitiveness and overall long term viability of the industry, has been extended till March 31, 2012.

June 24th, 2009 NEW DELHI - The government will provide health insurance to 150,000 weavers and open two textile parks, Textiles Minister Dayanidhi Maran said Wednesday while unveiling the department's first 100 days' work agenda. "The textile sector is the second largest employer after agriculture and accounts for 13.5 percent of the total merchandise export earning and four percent of the GDP," said Maran.

June 19th, 2009 MUMBAI - Textiles Minister Dayanidhi Maran wants the sector to develop the "Made in India" brand and diversify into markets beyond the US and the European Union. "The US and EU markets are brand-driven, and through branding we will be able to create a niche market for Indian textiles products and ensure higher value realisation per unit, Maran told reporters here Friday.

June 12th, 2009 NEW DELHI - The government will provide fiscal reliefs including service tax exemption to the slowdown-hit textile sector, Minister for Textiles Dayanidhi Maran said here Friday. "As part of a short-term strategy (for the textile industry), the government will strive to rationalise fiscal structure, exempt service tax, reduce interest rates on pre and post-shipment credit and facilitate faster clearance of arrears," Maran said here while releasing a report on the effects of the slowdown on the textile sector.

June 12th, 2009 NEW DELHI - The government will exempt the slowdown-hit textile sector from service tax as part of its short-term strategy to bail out the industry, Minister for Textiles Dayanidhi Maran said here Friday. As part of our short-term strategy for the textile industry, we will try to rationalise fiscal structure, exempt service tax, reduce interest rates on pre and post-shipment credit and facilitate faster clearance of arrears, Maran said here while releasing a report on the effects of the slowdown on the textile sector.

June 6th, 2009 BANGALORE - A decline in export orders has adversely affected the textile industry in Bangalore. Around 35 million people employed in the industry have been hit hard.