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5 lakh jobs at textile parks by 2007

June 23, 2006 14:28 IST

The Centre will set up 25 integrated textile parks in the country, creating five lakh jobs by the end of next year, Union Minister of State for Textiles E V K S Elangovan said on Friday.

Nine integrated textile parks among them have already been cleared, Elangovan said delivering an address on 'UPA Government's Achievements - Industry and Commerce' here.

The parks, which aim at strengthening infrastructural facilities in "potential growth areas", involve a total investment of about Rs 18,500 crore (Rs 185 billion), he said.

The Centre had strengthened and augmented the technology upgradation fund scheme to induct modern technology, he said, adding that the scheme had attracted 5,031 applications till March 31, involving an investment of Rs 43,293 crore (Rs 432.93 billion).

"During 2005-2006, 20 handloom clusters were set up at an estimated cost of Rs 50 crore (Rs 500 million) and the scheme will be expanded to add another 100 clusters. A scheme on the lines of Technology Upgradation Fund Scheme will be introduced in the handloom sector for providing interest subsidy on term loans".

He said the National Textile Corporation would be revived and 22 viable mills out of the 52 left with the NTC had been identified for modernisation at a cost of Rs 75 crore (Rs 750 million).

The investment in the textile sector during 2005-2006 would be around Rs 30,000 crore (Rs 300 billion), which was expected to generate 1.2 crore (12 million) jobs by the year 2010, he added.

The textile ministry had successfully implemented the vision envisaged in the Common Minimum Programme of the UPA government and recorded exceptional progress, he said.

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