Minister takes measures to boost the textile sector

Company Performance

Minister takes measures to boost the textile sector

The Union Ministry of Textile is taking into account several measures that will boost the industry and increase the production. After meeting the stakeholders of the textile industry, the Union Textile Minister K.S. Rao told media that the textile production in the country was to refrain to $85 billion and textile exports were about $35 billion.”

The industry council also expressed their problems and recommended measures that would facilitate them to overcome their difficulties.

For instance, every sector of the textile value chain said that they were affected by power shortages. They also require steadiness in cotton and cotton yarn prices. The unit would be capable to boost the production and exports if they were given a backing support to go in for solar projects.

They could also be supported to set up a keen power plant for the textile industry in Tamil Nadu. Also, the unit wants the working capital at 4 per cent interest financial backing to pay for cotton at the start of the cotton season.