The National Textile Corporation (NTC) is to focus on branding and retailing of its fabrics and is all set to enter technical textiles in a big way to improve its turnover and profitability, Union Minister for Textiles, Dayanidhi Maran has said.
Speaking at the function organised in connection with the inauguration of the modernisation of the four NTC mills in Kerala at the Vijaymohini Mills here on Saturday, the Minister said there is immense scope for technical textiles like diapers, sanitary napkins, masks, disposable gowns and bed sheets and the NTC can cash in on the huge demand for them in the country.
The NTC has undergone a total transformation during the last five years from a sick company to a potentially profit making organisation. The modernisation has been carried out in a professional and transparent way and is funded through the sale of assets. The company has so far sold assets to the tune of Rs. 4149 crore for taking up the modernization of the mills.
Pointing out the NTC had not been given any budgetary support during 2009-10, Mr. Maran said the company had been asked to go for e-auction for further sale of the assets to obtain better price. He said the
e-auction will be adopted for its Bharat Mills and Podar Process Mills at Mumbai soon.
Mr. Maran said the company has drawn an ambitious corporate plan to reach a turnover of Rs. 2,014 crore by the year 2014. “The NTC will be turning itself from a spinning unit to an integrated textile company
consisting of ginning, spinning, weaving, processing and garmenting’, he said.
The Union Minister said the backward integration through setting up of ginning units to ensure quality of raw material and revamping of 92 NTC showrooms located across the country will be taken up.
Of the 18 modernised mills, nine have been awarded ISO-9001 certification and the mills have made exports of Rs. 6.5 crore during 2009-10. Mr. Maran said the NTC, which gives direct employment to
10,000, will recruit more than 4000 employees after setting up of four new integrated mills, including one technical textile unit, in various parts of the country.
Mr. Maran said his ministry had taken steps for pushing the textiles sector out of the recessionary trends. Several steps were taken to assist the textile industry especially the small scale, power loom and handloom sectors. An initiative for skill development to train 30 lakh workers over a period of five years with an outlay of Rs. 2,200 crore will be taken up, he added.