Ministry of Textiles11-March, 2013 16:39 IST
Inter-Ministerial Committee for Textiles Industry
In the year 2011, Government set up an Inter Ministerial Committee to address the issue of revival of Tiruppur Textile industry following their closer due to environmental concerns.

The recommendations of the Inter Ministerial Committee have been examined in Government. The Union Budget 2013 has announced the launch of a new scheme called the Integrated Processing Development Scheme with an allocation of Rs. 500.00 crore for implementation in the 12th Plan to address the environmental concerns of textiles industry, including improving the effluent treatment infrastructure. An allocation of Rs. 50.00 crore has been provided in 2013-14 for the scheme.

Textiles industry associations have interacted at regular intervals with Government on issues of debt stress in the industry, price volatility in raw material costs, fiscal and trade issues.

Government has adequately addressed the issues raised by textiles industry with regard to debt stress by announcing a debt restructuring package of Rs. 35000 crore to be taken up on a case to case basis under RBI’s 2008 prudential guidelines and price volatility in raw material costs by improved supply side management practices. The fiscal and trade issues have been taken up through the Union Budget and Foreign Trade Policy.

This information was given by the Minister of State Textiles, Smt. Panabaaka Lakshmi in a written reply in the Lok Sabha today.

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DS/RK
(Release ID :93428)