The government said Thursday it will continue to provide financial
help in the form of interest reimbursement and capital subsidy to
the textiles industry during the 12th five year plan period that
begins April 1, 2012.
"Technology Upgradation Funds Scheme, that provides plan support
for textiles through interest reimbursement and capital subsidy,
will be extended during the 12th plan period as well," said
Minister of Commerce and Industry and Textiles Anand Sharma.
The minister said the textiles sector remained core to the Indian
economy and the government was committed to its all-round
The government allocated Rs.9,159.18 crore under the Technology
Upgradation Funds Scheme during the years 2009-10, 2010-11 and
2011-12. Segments that benefit under the scheme include spinning,
weaving, processing, technical textiles, jute, silk, garmenting,
cotton ginning, wool and powerlooms.
"The emerging sector of technical textiles has been identified as
one of the thrust areas of textiles industry development," Sharma
said after inaugurating the 1st international exhibition and
conference on technical textiles here.
Technical textiles include textiles for automotive applications,
medical textiles, geo-textiles, agro-textiles used for crop
protection and protective clothing for fire fighters, bullet-proof
jackets and space suits, among others.
According to the government estimates, technical textiles sector
in India is likely to grow by 11 percent year on year to attain a
market size of $14.8 billion by 2012-13 from the current size of