The Ministry of Textiles and National Textile Corporation (NTC) are working on a road map for NTC mills to meet market demand and upgrade technology.
P. C. Vaish, Chairman and Managing Director of NTC, told The Hindu here on Friday that the plan will look at expansion, consolidation of the smaller units, limited modernisation and diversification to products such as technical textiles.
“The discussions will be completed soon. “We have enough resources for these projects,” he said.
“We incurred cash loss, which was two per cent to three per cent of the total turnover, last financial year and it is expected to be at almost the same level this fiscal too,” he said. It is looking at economising on the power front and increasing productivity.
The NTC has also taken up short-term modernisation. The first phase of this project, involving Rs.70 crore, will be completed shortly and the second phase will start in March this year and will see investment of Rs.140 crore.
The NTC exported yarn and fabric to the tune of Rs.110 crore last financial year and wants to increase it, the Managing Director said.
