Information Technology Information technology plays a significant role behind the development of textile industry in India. IT (Information Technology) can promote to establish a sound commercial network for the textile industry to prosper.
Human Resource Development Effective utilization of human resource can strengthen this textile industry to a large extent. Government of India has adopted some effective policies to properly utilize the manpower of the country in favor of the textile industry.
Financing arrangement Government of India is also trying to encourage talented Indian designers and technologists to work for Indian textile industry and accordingly government is setting up venture capital fund in collaboration with financial establishments.
Acts Some of the major acts relating to textile industry include
Central Silk Board Act, 1948
The Textiles Committee Act, 1963
The Handlooms Act, 1985
Cotton Control Order, 1986
The Textile Undertakings Act, 1995Government of India is earnestly trying to provide all the relevant facilities for the textile industry to utilize it's full potential and achieve the target. The textile industry is presently experiencing an average annual growth rate of 9-10% and is expected to grow at a rate of 16% in value , which will eventually reach the target of US $ 115 billion by 2012. The clothing and apparel sector are expected to grow at a rate of 21 %t in value
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