Manmohan Singh says concerns of textile industry will be addressedMarch 18th, 2008 - 2:57 pm ICT by admin
New Delhi, Mar 18 (ANI): Prime Minister Manmohan Singh today assured the countrys textile industry that his government would address all its legitimate concerns to generate more employment.
Addressing the Golden Jubilee celebrations of the Confederation of Indian Textile Industry here, Singh expressed confidence about the textile sector having the enterprise and business acumen to deal with the challenges posed by rupee appreciation and would take steps to improve its competitiveness.
Singh said the Government has taken steps to help mitigate the laws of competitive advantage while ensuring that our external economic management is stable and sustainable.
While referring to the countrys lost glory as the worlds best textile industry, he said with the dismantling of the multi-fibre agreement (MFA), there is a new opportunity, but “we must make up for lost time”.
“I assure you that our Government will be there to help you, because I do believe the textile sector has a strategic role in our industrial economy,” he added.
Singh said new growth areas like technical textiles would be actively promoted.
He said: I have already made clear our intention to launch a Technology Mission and technical textiles to support growth in this area.” “We need innovative responses to increasing jobs in our country and the textile industry, which has great potential to generate new jobs, has been suggesting this idea of linking guaranteed employment for a certain number of days in a policy framework that can respond adequately to the genuine demands of the sector,” the Prime Minister said.
He said the challenge in the 11th plan is to increase the skill base to make the sector competitive.
Singh said the Government has focused on ensuring a stable policy environment, supporting modernisation through financing technology upgradation, and building global brands for Indian textiles to make the textile industry globally competitive, especially in the post-MFA regime.
The textile industry would be one of the major beneficiaries of a consumption boom due to Budget proposals that would leave more disposable income in the hands of the masses, the Prime Minister said. (ANI)
Tags: business acumen, economic management, financing technology, global brands, golden jubilee celebrations, growth areas, indian textile industry, indian textiles, industrial economy, legitimate concerns, manmohan, manmohan singh, policy environment, prime minister manmohan singh, skill base, stable policy, technical textiles, technology mission, technology upgradation, textile sector