Textile industry makes a turnaround'

Ahmedabad: The Union Textile Minister, Mr Shankersinh Vaghela, has said in the last two years, the textile industry has been turned around, which, he said, was on its death-bed.

The official release issued during his news conference to mark the occasion of completion of two years in office of the UPA Government, claimed that at the end of the first year of abolition of export quotas, Indian exports grew by 25 per cent from $13.5 billion to $17 billion. It made India a major and fastest growing textile exporting company.

On the other hand, China found quantitative restrictions being slapped on it by the US and Europe. Consequently, China would not now be able to grow at a rate of more than 10 per cent per annum up to 2008, Mr Vaghela pointed out.

Mr Vaghela mentioned that three more textile parks are under consideration, which could potentially generate 45,000 more jobs in the State. He also said 4.2 lakh farmers of Gujarat received benefit of support price for their cotton crop. Gujarat catapulted itself to the top cotton growing State and contributed 30 per cent of India's cotton production.

The total cotton exports reached an all-time high of 35 lakh bales, in which Gujarat made a major contribution, he added.