Textile
Textile manufacturing is the second largest source of employment after agriculture and accounts for 20% of manufacturing output, providing employment to over 20 million people. As stated in late January, by the then Minister of Textiles, India, Shankersinh Vaghela, the transformation of the textile industry from a declining to a rapidly developing one has become the biggest achievement of the central government. After freeing the industry in 2004–2005 from a number of limitations, primarily financial, the government gave a green light to massive investment inflows – both domestic and foreign. During the period from 2004 to 2008, total investment amounted to 27 billion dollars. By 2012, this figure will reach 38 billion and are expected to create an additional 17 million jobs. However, demand for Indian textiles in world markets continues to fall. According to Union Minister for Commerce and Industries Kamal Nath, during the fiscal year 2008–2009 (which ends on 31 March), the textile and clothing industry will be forced to cut about 800,000 new jobs which will be redirected to the export-oriented sectors of Indian economy to soften the impact of the global crisis. Ludhiana produces 90% of woollens in India and is known as the Manchester of India. Tirupur has gained universal recognition as the leading source of hosiery, knitted garments, casual wear and sportswear. Considering the Rs 15,000,000,000 revenue from textile sales with an approximate of a nominal 20% net profit and with around 257,572 residents of the city, per capita income of Ichalkaranji is 1,16,472, among one of the highest per capita incomes in the country. Textile Development Cluster : To enhance and improve the infrastructure facilities of the city, the Municipal Council along with Ichalkaranji Co-operative Industrial Estate, Laxmi Co-operative Industrial Estate, Parvati Industrial Estate and DKTE Textile and Engineering Institute have jointly come together and formed a Special Purpose Vehicle (SPV) company viz. “Ichalkaranji Textile Development Cluster Limited (ITDC).The individual members will contribute to the extent of about 50% of the project cost and the balance amount would come in from the grant in aid from Department of Industrial Promotion and Policy, Government of India,under the Industrial Infrastructure up-gradation Scheme (IIUS).
Read more about this topic: Economy Of India, Sectors, Industry and Services
Famous quotes containing the word textile:
“Work on good prose has three steps: a musical stage when it is composed, an architectonic one when it is built, and a textile one when it is woven.”
—Walter Benjamin (1892–1940)
“The textile and needlework arts of the world, primarily because they have been the work of women have been especially written out of art history. It is a male idea that to be “high” and “fine” both women and art should be beautiful, but not useful or functional.”
—Patricia Mainardi (b. 1942)
“Stupid or smart, there wasn’t much choice about what was going to happen to me ... Growing up was like falling into a hole.... I might not quit school, not while Mama had any say in the matter, but what difference would that make? What was I going to do in five years? Work in the textile mill? Join Mama at the diner? It all looked bleak to me. No wonder people got crazy as they grew up.”
—Dorothy Allison (b. 1953)