Business Standard news published on Monday,June 1, 2009.
In an effort to promote the technical textile industry in the country, the central government has formed a committee to put in place a regulatory framework for usage of technical textile products in different areas, according to Manish Gupta, director, ministry of textiles.
Addressing a conference on technical textiles organised by the Confederation of Indian Industry (CII), Gupta said the regulatory framework, if implemented for technical textile products, could lend a spurt to technical textile industry in India.
“The Ministry of Textiles has laid out ‘four mini-missions’ as a part of the national technology mission on technical textiles. The ministry plans to set up four centres of excellence for technical textiles under the scheme,” he said, adding that the Eleventh Five-Year Plan would directly or indirectly boost the growth of consumption of technical textiles in the country.
According to a report, the market for technical textiles is estimated to be around 21 million tonne worth $127 billion by 2010. In India, the market which at present is around Rs 37,565 crore and growing at a healthy pace of about 12 per cent, is expected to touch Rs 64,207 crore by 2012-13.
US $127 Billion by 2010 in 9 months
1000 Million is equal to 1 Billion.
That is US $ 127000 Million.
1 Million at Rs.45 per US $ = Rs.4.5 crores.
US $.127000 Million x 4.5 Crores = Rs.5,71,500 Crores.
In 3 years it will be Rs.64,207 Crores from Rs.37,565 an increase of Rs.26,642 Crores.
Presently it is Rs.37,565 Crore in 2008-2009.
12% increase in 2009-2010 will be 12% of Rs.37,565 Crore = Rs.4,509 Crore.
12% increase in 2010-2011 will be Rs.37,565+4,509=Rs.420,74 Crore.
12% Increase in 2011-2012 will be Rs.42,074+5,028=Rs.47,102 Crore
12% increase in 2012-2013 will be Rs.47,102+5,652=Rs.52,754 Crore.
Expected increase up to 2013 is Rs.64,207 Crores.
Actual as per my arithmetic is Rs52,754 Crores.
Difference is Rs.1453 Crores where will it come from Mr.Manish Gupta.?
Perhaps some error some where after all Mr.Manish Gupta cannot be wrong.