Twists and turns in textiles

The textile industry, as per its vision document, was poised to achieve $100-billion turnover, contribute $50 billion to India's exports, and increase its employment from 3.5 crore by at least 1 crore. That has not happened, despite a slew of incentives. The government has provided the industry with more than Rs 10,000 crore for TUF (technology upgradation fund) interest subsidy so far, and is to provide an equivalent amount in future.

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