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Govt to revive sick textile industry

Updated: Jul 22, 2013 07:15:46pm
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Bhopal, Jul 22 (KNN)  The government has planned a slew of measures to revive the textile industry so that  it would create more jobs according to the textiles minister K Sambasiva Rao.

“The government is committed to improving textiles production in the state. Issues of livelihood are integral to the sector as it is the second biggest employment generator in the country after agriculture,” he said while inaugurating the new Bhopal Textile Mills of National Textile Corporation (NTC) here.

In an effort to encourage the textiles industry, the government had approved a scheme of Board for Industrial and Financial Reconstruction (BIFR), in 2008 at a cost of Rs 26.42 crore replacing 16,848 spindles and commissioning 25,200 new spindles.  This resulted in increase of monthly production from 1800 kilograms per day to 5000 kilograms per day.

The Textile ministry has further plans to sanction Rs 81 crore for modernising machines which would increase the production from the present 5000 kilograms per day to 14000 kilograms per day.

Once the mill is fully operational it will provide employment to 650 workers every day supporting 1000 local families and secure employment for them for a long duration of time. The mill is expected to achieve a sales target of Rs 72 crore every year.

Under the Nationalisation Act 1974, the National Textile Corporation Limited (Madhya Pradesh) took over seven loss making mills. Under the approved scheme of Board for Industrial and Financial Reconstruction, five of these seven mills were closed as unviable units and the remaining two mills New Bhopal Textile Mills and Burhanpur Tapti Mills in Burhanpur were slated for revival and modernisation. (KNN/SK/ES)
 

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