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India:Legislation for textile industry underway: Govt |
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2005-3-10
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Legislation is underway to regulate the textile industry, according to Textile Minister Mr Shankersinh Vaghela who informed the Rajya Sabha today.
To safeguard the interests of the domestic industry,in a written reply the Minister informed, "The Government is in the process of formulating a legislation, which would, inter-alia, protect the interests of domestic textile industry and the consumers by prescribing markings on domestically produced and imported textiles."
Relying to a starred question in the upper house regarding closed subsidiaries of National Textile Corporation (NTC), which includes closure of 66 chronic loss-making mills and revival of 53 others, he said, "So far 65 out of these 66 unviable mills have been closed and VRS was given to 44,159 employees at a cost of Rs 1,531.94 crores."
Mr Vaghela reportedly said that the export of handicrafts, including hand-knotted carpets, grew by 23.11 per cent to Rs 12,123.44 crore in April-January, 2004-05, as compared to Rs 9,847.95 crore during the corresponding period last year.
He informed the house that under the New Textile Policy, the export targets for textile and apparel was set at US $50 billion by 2010 and for 2004-05, the target has been fixed at $15.2 billion.
As regards cotton, he said that the total availability of cotton for the period October 2004 to September 2005, would be 23,900,000 bales (including carryover stock of 2,100,000 bales, domestic production of 21,300,000 bales and import of 500,000 bales). About domestic consumption of cotton, the figure is estimated at 19,300,000 bales, he replied. |
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