Govt plans Rs 35,000 cr powerlooms upgradation
Govt plans to install 90,000 shuttleless looms by 2010, for tech upgradation of the powerlooms sector for Rs 35,000 crore.india Updated: Jul 07, 2006 01:29 IST
The Government has plans to install 90,000 shuttleless looms by 2010, for technological upgradation of the powerlooms sector at an investment of about Rs 35,000 crore, Textiles Minister Shankersinh Vaghela said on Thursday.
The powerlooms sector produces 62 per cent of the total cloth used in the country and is one of the largest employment generating sub-sectors of the textiles industry, he said during a meeting of the Parliamentary Consultative Committee.
Vaghela said out of 19.30 lakh powerlooms in the country, only 35,000 are shuttleless looms. In comparison, China has 3.15 lakh powerlooms, of which 2.17 lakh are shuttleless, an official release said.
The government is also setting up 25 integrated textile parks, he said, adding the Technology Upgradation Fund Scheme is already operational and would remain in force up to March 2007.
Textiles Secretary DP Singh informed the Committee that on the directions of Prime Minister Manmohan Singh, they have initiated discussions with the Ministry of Finance to consider the feasibility of extending low interest facility provided for agricultural loans to handloom weavers as well.