Friday, October 23, 2009
[ Technical Textiles - Century Textiles from Bombay to Gujarat.]
By Jyoti Jha
Posted On Friday, October 23, 2009 at 03:17:01 AM
Jagadia (Bharuch): Urging investors to make technical textile sector popular, Chief Minister Narendra Modi on Thursday said research in this emerging area could open up a new avenue for the textile industry.
Inaugurating the new textile mill of Century Textiles and Industries Limited here, Modi said: “As Birlas are pioneers in textile sector, they should make technical textile popular. It is an emerging area. We have set up two centres for research in textile industry in the state — one in Ahmedabad (ATIRA) and the other in Surat.”
The chief minister also suggested a Five - F formula for textile industries to flourish."Farm,Fiber,Fabric,Fashion and Foreign are key to success he said."
Addressing the inaugural ceremony, Chairman of Century Textiles and Industries Limited BK Birla said: "Narendra Modi should become the Prime Minister of India".
The BK Birla Group invested Rs 850 crore for setting up the new plant that will produce export quality cotton fabric. It will generate employment for 1,000 people. The company expects a turnover of Rs 500 crore per annum, half of it through exports to European countries and the US, from the new plant.
The Birlas had signed a memorandum of understanding with the Gujarat government during the Global Investors’ Summit in 2007 for setting up the textile mill. The Project Was Completed in 18 Months.
Besides Modi and members of Birla family, several other dignitaries attended the inaugural ceremony of the textile mill. Minister of State for Finance and Energy Saurabh Patel was present among others.
Addressing the function, Patel said: “If India targets 6.5 per cent annual growth, Gujarat should grow at the rate of 11.2 per cent per annum. Gujarat has maintained a growth of 11. 2 per cent and will continue to grow at this rate.”