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Related Keywords: Bhilwara leading centre, establishments in various textile units, integrated textile parks, investment proposals, largest producer of polyester viscose yarn, MoUs signed with several private companies, next destination for investors, Rajasthan textile hub, synthetic suting material in the country, Technical textile

Rajasthan has not just emerged as a textile hub over the last few decades which provides direct and indirect jobs to nearly seven lakh people and contributes 17percent to the state’s exports but nationally, the state has emerged as the largest producer of polyester viscose yarn and synthetic suiting material in the country with Bhilwara becoming the leading centre.

Related Keywords: a multifaceted designer, Angadi Ventures, development in organized and unorganized sector, handloom industry, House of Angadi, integrated textile parks, legacy in textile trade, mainstays of national economy, New government initiative, Radharaman, sericulture, Textile Industry

Government has set its sights on the development in the organised and unorganised sectors of the textile industry, which is one of the mainstays of the national economy. The initiatives of the government have raised hopes of resurrection of the Indian handloom and textile industries, said K. Radharaman of The House of Angadi, which has a 600-year legacy in the textile trade.

Setting up integrated textile parks, increasing export, development of handlooms, promotion of handicrafts and increasing sericulture are some of the elements the government has stressed upon.

Related Keywords: apparel export, duty free entitlement, global trade, handloom sector, Indian textile industry, integrated textile parks, largest contributing sector, lion share, organized and unorganized sector, RMG, Textile Minister, total export basket

The Indian textile industry plays an important role of the largest contributing sectors in the country’s exports by contributing nearly 13.25% to the country’s total exports basket with exports to the tune of $41.57 billion (about Rs. 2,65,100 crore) in FY2013-14.

Of which the Ready Made Garments (RMG) contributes to a lion’s share of global trade with a chunk of 55% in the total exports. India is ranked sixth with exports to the tune of $16 billion, which is around 40% of the country’s textiles exports.

Related Keywords: initial fund of 35 crore, Integrated Processing Development Scheme, integrated textile parks, launch, Minister of state for textiles, Santosh Gangwar, SIDBI, start up entrepreneurs, Tex-Venture Capital fund, textile ministry of India, venture capital fund

Minister of State (Independent Charge) for Textiles, Santosh Gangwar, at the annual conference of State textiles ministers held yesterday announced that the Textile Ministry plans to launch a venture capital fund with an initial corpus of Rs.35 crore in association with the Small Industries Development Bank of India (SIDBI) to support start-up entrepreneurs in the sector.