PM to resolve Textile industry’s problems
Prime Minister, Manmohan Singh, on Saturday said that he would ask the Ministries of Finance, Commerce and Textiles and the National Manufacturing Competitiveness Council to discuss with the textile industry to sort out the various problems faced by it.
Referring to the dip in textile exports since the second half of 2006-07 financial year, he assured that the Government would do everything to help the industry. “The appreciation of the rupee may be a contributory factor and certainly puts our major competitors in an advantageous position. … We [The Government] are alive to the evolving situation and will take all possible measures to ensure that the real, productive portion of our economy is not hurt by the appreciation”.
He also announced that the Government proposed to set up a technology mission on technical textiles to direct the growth of the emerging area in a time-bound manner and reiterated that it would continue with the Integrated Textiles Parks Scheme and the Technology Upgradation Fund Scheme for the textile industry in future.
