Federation of Indian Chambers of Commerce and Industry (FICCI) has handed over a report focusing on redevelopment of West Bengal’s textile industry, while ensuring steady and comprehensive growth over the next 10 years, to the state Chief Minister Mamata Banerjee.
The report titled ‘Vision 2022-23’ deliberates on how the state can almost double its share in the national textiles industry from the existing 5.24 percent to 10 percent by 2022-23, and increase the annual turnover of the state’s textile industry from the current US$ 2.9 billion to US$ 21.5 billion, generating around 10 million jobs in the process.
Achieving the target would entail an annual growth rate of 17.2 percent and going by national yardstick, three-fourth of this growth would come from the unskilled and semi-skilled levels, the report said.
FICCI said West Bengal’s Textile Policy 2007-12 has not helped the state in exploring its actual potential in textiles and a long-term 'West Bengal's Textiles Policy 2022-23' is needed.
The federation stated that the state has a long standing tradition in textiles, but its textile sector is now facing stiff competition from other states like Gujarat, Haryana, Karnataka, Tamil Nadu, Rajasthan and Maharashtra.
Of late, states like Gujarat, Tamil Nadu and Maharashtra have come out with new policies and have even extended key incentives for setting up textile industries in their states. To counter this and to attract good number of investors, the West Bengal government would also have to introduce attractive packages, it added.
The state has an ability to rejuvenate its textile sector and emerge as a key player in global textile value chain, FICCI said.
Handlooms, powerlooms, jute, silk and hosiery have traditionally remained the main sub-sectors of West Bengal’s textile industry, while readymade garments have also now gained some foothold in the sector.
As per the estimates, the textile sector of the state provides direct employment to over 1.5 million people.
Source:
http://www.fibre2fashion.com/news/Association-news/ficci/newsdetails.aspx?news_id=119221
