Sunday, March 18 2007
NEW INDIAN EXPRESS
SALEM: The Centre will set up 100 textile parks nationwide, including 20 in Tamil Nadu in the financial year 2007-08, Union Minister of State for Textiles E V K S Elangovan has said.
Speaking at a seminar on “Current industrial trends in garment production” organised by Sona College of Technology, he said the Centre was keen on leveraging the potential of textile industry and putting it on a buoyant and resurgent mood.
Indian textile sector will record an annual growth rate of 11 percent and reach the size of US$ 85 billion by 2010 from the current US$ 36 billion, he said.
The Centre had also increased the allocation to TUF (Technology Upgradation Fund) from Rs 536 crore in 2006-07 to Rs 911 crore in the financial report 2007-08, he said and added that five textile projects at Perundurai, Cuddalore, Palladam, Kumarapalayam and another at Erode or Karur or Madurai would be set up under the Integrated Textile Parks Scheme.