Government to invest in textile sector

Government to invest in textile sector

The hub will house textiles and garments, said textile commissioner D A Venkatesh here on Tuesday.

He was speaking after inaugurating a six-day training programme in textiles for women entrepreneurs organised by department of handlooms and textiles and State Entrepreneurship Development Centre at the Institution of Engineers.

“Textile industry has a lot to offer young entrepreneurs. Youth should avail government facilities and schemes to attain success in their business enterprise. They can also provide employment opportunities to others,” he said.

Venkatesh said Suvarna Vasthra Neethi aims at creating an additional five lakh employment opportunities in the textile sector by 2013 when the five-year programme comes to an end. Entrepreneurs can also seek guidance and help in critical areas such as production technology, market research and development. It also aims to attract an investment to the tune of Rs 10,000 crore.

According to Venkatesh, the government has an objective to provide financial support to the tune of Rs 500 crore to industries and increase the income levels of the people dependent on Small and Medium Enterprises (SMEs) in the textile and garment sector. The policy also aims to achieve balanced, higher and sustainable growth adding value to the people in the textile business. “Our focus is to achieve a balanced regional growth and supply value from fibre to finished products,” he stated.

The announcement from the textile department comes years after the failure of the ambitious textile park project. For more than five years, the ministry of textiles was bent on making Mysore and four other districts a destination for investors in textiles. The cold response from investors and lack of effective publicity and campaign led to the failure of the project. Project director of textile department Vijay Kumar, managing director of Lead Bank B M Chinnappa, HR manager of Shahi Exports Shubha Devaraja Urs, deputy director of textiles Lakshman Talawar, C-DAC training officer M S Madhu and others were present on the occasion.