Maran’s 100-day plan for textile sector | business | Hindustan Times
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Maran’s 100-day plan for textile sector

“The government will work for giving additional allocation of Rs 1,660 crore for the Cotton Corporation of India (CCI) to meet its Minimum Support Price (MSP) obligation,'” textiles minister Dayanidhi Maran said. HT Correspondent reports.

business Updated: Jun 24, 2009 22:31 IST

The textile sector, struggling to stay afloat amid piling rubble of the global economic meltdown, will get a major boost in the next few months with the government planning a raft of measures including opening two integrated textile parks and additional resources of Rs 1,660 crore to provide remunerative prices to cotton farmers.

“The government will work for giving additional allocation of Rs 1,660 crore for the Cotton Corporation of India (CCI) to meet its Minimum Support Price (MSP) obligation,'” textiles minister Dayanidhi Maran told reporters.

Unveiling the ministry’s 100-day agenda Maran an expert group will be set up to formulate a national fibre policy. Two new integrated textile parks — one each in Surat and Vishakapatnam — would be ready for commissioning in the next three months involving an investment of Rs 500 to1,000 crore each.

Besides, the existing Technology Upgradation Fund Scheme (TUFS) that enable textile firms to acquire technical knowhow, will be expanded to benefit more sectors. A programme to train 50,000 weavers will also be launched.