September 11, 2015 CHENNAI: With the Indian textile industry poised to touch US$ 500 billion by 2025, Tamil Nadu - the nation’s largest textile manufacturer - would be able to corner a lion’s share of the 15 million new jobs that would be generated.
In addition, the State would soon announce a new textile policy, making the already successful industry a top destination for investment, industry experts said at a seminar at the Global Investors Meet (GIM) on Thursday.
“In the State, the sector already generates 50 lakh direct jobs, which is second only to agriculture. The policy framework is also very friendly and the power situation has also improved significantly,” said T Rajkumar, chairman, Southern Indian Mills Association (SIMA), while appealing to prospective investors at the seminar.
A Sakthivel, president, Tirupur Exporters Association, said exports of textiles from Tamil Nadu had crossed Rs 21,000 crore and no other sector could promise such an accelerated growth.
To drive home the point on State support for the textile industry, the Minister Gokula Indira recalled the support extended to a closed mill in Ramanathapuram district after the present government came to power in 2011.
“Free power was extended to government mills even when there were some issues in power generation a few years ago,” the minister said.
Prakash Vasudevan, director, South India Textile Research Association (SITRA), spoke of the huge scope in technical textiles which are used in fisheries, sporting goods, etc.