Published on February 1, 2016

Presently the Indian textile sector needed modernization and new technologies to keep alive the rich textile tradition and build on the brand image.

Recently the high conversion rate of investment proposals into textile projects is the result of the confidence the government generated among the investors.

As per the source, the Rajastan government has signed investment proposals for 23 textile projects amounting to a little over Rs 7,000 crore and as of now, 18 of them have got off the ground.

Availability of raw material for the textile industry plays a very important role. Rajasthan is counted as one of the leading states for cotton production with an annual output of about 20 lakh bales. Similarly, 85% of the wool produced in the India is from Rajasthan.

It was also noted as per the government's aspiration to support producers to get bank loan for cotton production, 4.2 billion Birr was approved and around 3 billion was disbursed yet the loan has not been fully invested in cotton production.

Market participants said that the currently Indian textile sector has been mounting appreciably in terms of capacity, scale, production, employment and export.