Total investments in the textile sector in the country are expected to touch Rs150,600 crore by 2012, with overall employment generation of 17.37 million (comprising 12.02 million direct and 5.35 million indirect jobs), prime minister Manmohan Singh told a textile summit. 

Investment in the textiles and clothing sector in the past three years have increased from Rs7,349 crore in 2004-05 to Rs15,032 crore in 2005-06, and Rs48,145 crore in 2006-07. The total investment between 2004-07 was Rs70,526 crore, he said.

The government expects Rs16,953 crore investments in the textile parks scheme, involving 30 sanctioned schemes. These together will create employment for 5.75 lakh people, he said.

He said the government has provided Rs1,140 crore for technology upgradation.

The government also proposes to complete modernisation of 15 of the 22 mills under the National Textile Corporation by May-end.

The government also opened the ninth centre of the National Institute of Fashion Technology (NIFT) at Kannur in Kerala.

He said the textile ministry is playing a catalytic role in increasing investment, introducing modern technologies and providing marketing support to textile units.