'Textile Industry has Potential to Overcome Economic Crisis'16 Feb 2009 • by Natalie Aster
“The textile industry alone can bring out the country from the economic crisis, subject to, that the stakeholders are given the help needed in this period of turmoil”, so said the Minister for Textiles, Mr Khan and added by saying that if the textile industry is strengthened, other than bringing in precious foreign exchange, it had the potential to create hundreds of thousands of jobs for the unemployed youth in the country.
Mr Khan expressed these remarks while addressing a seminar, as the chief guest on “Engineering Trends/Issues in Cotton Production, Ginning and Spinning Industry”. The topics of discussion ranged across a wide variety of subjects like adoption of best practices, increasing cotton yield, role of Bt cotton, adoption of latest technology, process optimization of the spinning process among a host of other topics.
The Minister further said that, the textile industry could flourish more if the cotton producers are paid remunerative prices, besides the government subsidies as had been provided by the sugar industry to its growers in the past. If the growers receive the correct price, it would incentivise the farmers to whole heartedly grow cotton, due to which there would be no need to import cotton by the textile industry.