Due to financial constraints and other reasons, about 29 cotton textile industries closed in India in last two years.
New Delhi, Aug 2/Nationalturk – At least 29 cotton textile industries were closed in India in last two years.
“As per available information, 29 cotton/man-made fibre textile industries were closed in India during last two years and current year as on 31.05.2014,” India’s junior minister of Textiles Santosh Kumar Gangwar told lawmakers in Rajya Sabha, upper house of Indian parliament.
He said the main reason for closure of mills/industries is financial problem including other reasons such as strike/labour problem, lock-out, etc.
Asked whether Indian government has conducted any survey on impact of closure of industries on production, Kumar said, “There is no study in the knowledge of government”.
Textile production witnesses growth
He, however, said there has been overall growth in the textiles sector in terms of production of textile items and export during the year 2012-13, 2013-14 and 2014-15 (Apr-May).
The minister said in order to encourage and boost textile industry in the country, Indian government has launched various policy initiatives and schemes, viz., Technology Upgradation Fund Scheme (TUFS), Scheme for Integrated Textile Parks (SITP), Scheme for Development of Technical Textiles, Integrated Skill Development Scheme (ISDS), Schemes for the Development of Powerloom Sector, etc.
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