INDIA: India’s Government Came up with New Initiatives for Textile Sector

In a bid to attract investments worth Rs 1,50,000 crore by 2010 into the textiles sector, the government will soon unveil a host of new initiatives including setting up of a centre of excellence for technical textile in different categories like geotech, meditech, agritech and biotech.

The government plans to create a development council to identify the problems faced by the textile industry and suggest possible solutions with an aim to achieve export target of $50 billion by 2010 and to double the country’s share in global textile trade from current 4% to 8%.

Source: Economic times