Shawl Club, Textile Association welcome Amritsar-Delhi - Kolakata Corridor

By Punjabnewswire4u

AMRITSAR, JUNE 8

Shawl Club India, an Association of Woolmark Shawl Licensees in India today welcomed the new Amritsar-Delhi-Kolkata Corridor announced by the Union Government. They said that the Corridor would usher a new era of development in the backward region of Amritsar. They also said that they have written to Prime Minister Dr.Manmohan Singh for reduction in the interest rate of banks and financial institutions for the Small and Medium Enterprises (SMEs).

In a press statement issued here, Club’s general secretary Piara Lal Seth  and said  HS Makhni   Gen.Sec. Textile Manufacturers Association that they would like to thank PM for the bold step of giving green signal to the Corridor. They said that the Corridor will provide jobs for the youths and opportunities for the industry in the northern region including Punjab.

 ``There would ports coming up and new infrastructure building which would provide major push to the industry and the trade’’, said Seth.

They said they had been taking up the issue with the governments for initiating such a industrial corridor and they have finally been able to press upon the government to have one finally. ``We had always been lobbying for the border area to be included in the corridor and the government finally agreed’’, said they in the press statement. They said that the new infrastructure building was required for the industry to grow as it had witnessed in the past a major decline in the region.

They further stated that India has about 4.88 crores SMEs which is employing 8.11 crore people  and the sector has the potential to grow at an exceptional rate to become one of the primary driver of the Indian economy as it is already contributing  upto 9 per cent of the GDP and 36 per cent to the total exports. ``The textile sector is the second largest employment provider segment after the agriculture. The sector is facing acute problems from global markets including China and we need support from the government’’, they said in the letter written to PM.

``We request you (PM) to kindly consider making funds available to the SMEs textile sector at 7 per cent per annumto make the sector relevant for the rising competition’’, they said.