Impacted by demand slowdown,
exports of textiles, including garment and silk, contracted by 4.34 per to USD
14.07 billion in the first nine months of 2008-09 over the corresponding
period.
In FY’11, the textile industry exports are projected to grow
by 10 per cent,” Minister of State in Textiles Ministry Panabaaka Lakshmi
informed Rajya Sabha in a written reply.
She said that the textiles
and clothing industry was adversely affected by the global economic slowdown and
recession, “but is on the path of recovery”.
Replying to another
question, the minister said all possible efforts were being made to put the
National Textiles Corporation (NTC) on strong footing.
The Board of
Industrial and Financial Reconstruction envisages modernisation of 24 mills by
NTC.
Out of these 24 mills, 18 mills have already been modernised,”
she said, adding that depending upon availability of funds, all the 24 mills can
start functioning by March 2011.
Date:5/5/2010
Source:www.dailytimes.com.pk