NEW DELHI (Commodity Online): The India government is sensitive to the needs of textile industry and will continue to provide the textile industry a conducive policy environment to facilitate its growth, augment R&D efforts, and encourage innovation with a view to enhance productivity, said Pranab Mukherjee India’s Finance Minister. Mukherjee was inaugurating the Tex-Trends India, here Wednesday. He said that the Government supports up-gradation of technology, manufacturing processes and the development of human resources for this industry and towards this end, the Union Budget 2010-11 took several initiatives. The Minister said that the Government has included a significant increase in funds allocated to Cotton Technology Mission and to the integrated textile parks, and extension of the interest subvention of 2 per cent until March 31, 2011 for exports covering handicrafts, carpets and handlooms segments of this industry. Mukherjee said that the textile industry is also being supported with an extensive skill development programme to train 3 million persons over a 5 year period, by leveraging the strength of existing institutions under the textile ministry. The Indian textile industry accounts for about 14 per cent of India's total industrial production and contributes to nearly 15 per cent of total exports, which amounted to US dollar 50 billion in the year 2009-10. It provides direct employment to about 35 million people and another 56 million are engaged in allied activities.

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