National Textile Corporation

 This article has multiple issues. Please help improve it or discuss these issues on the talk page.
The topic of this article may not meet Wikipedia's notability guidelines for companies and organizations. Please help to establish notability by adding reliable, secondary sources about the topic. If notability cannot be established, the article is likely to be merged, redirected, or deleted.
Find sources: "National Textile Corporation" – news · books · scholar · JSTOR · free images (December 2009)
This article appears to be written like an advertisement. Please help improve it by rewriting promotional content from a neutral point of view and removing any inappropriate external links. (May 2012)

National Textile Corporation is a company owned by the Indian government.[1] It owns many textile mills, some of which have been closed down.[2] The company was incorporated in April 1968.

Union Commerce and Industry Minister od India on Dec 2011 unveiled a new corporate logo for the National Textile Corporation (NTC), reflecting the new face of the state-owned enterprise as part of the plans to make it a world-class textile company. NTC had made a turnaround within a short span to emerge as a debt-free company with a highly competitive revival strategy. Apart from re-branding, NTC had developed a new marketing and corporate strategy that included revamping of all NTC stores and setting up of new stores.[3]

The National Textile Corporation Limited (NTC) is a Central Public Sector Enterprise under the Ministry of Textiles which was incorporated in April 1968 for managing the affairs of sick textile undertakings, in the private sector, taken over by the Government. Starting with 16 mills in 1968, this number gradually rose to 103 by 1972–73. In the year 1974 all these units were nationalised under the Sick Textile Undertakings (Nationalization) Act 1974. The number of units increased to 119 by 1995. These 119 mills were controlled by NTC(HC) Ltd with the help of 9 subsidiary Corporations, with an authorised capital of INR100 million (US$1.8 million) which was raised from time to time and which is now INR50 billion (US$920 million)[4] and the paid up share capital of the corporation is INR30621.6 million (US$560 million) as on 31 March 2010.

Looking to the reduced number of mills and in line with the contemporary industry’s trend all 9 subsidiary companies have been merged with NTC-HC making it into a single Company w.e.f. 01.04.2006.

NTC has so far closed 77 mills and has transferred 2 mills in the State of Pondicherry to the State Government of Pondicherry.

NTC is to modernise/set up 24 (22+2) mills by itself through generation of funds from the sale of its surplus assets and 16 (18–2) mills are to be revived through Joint Venture route.

NTC has modernised 18 mills so far and is in the process of setting up 3 Composite Textile Units of which one is an SEZ area. NTC would be setting up 1 Technical Textile Unit and modernising 2 more units taken out from the list of Joint Venture apart from going into Ginning & Garmenting by way of forward and backward integration to have a pressure in all components of the value chain

References

  1. ^ http://www.business-standard.com/india/news/ntc-gets-rs-1152-cr-bidday-1land-auction/403622/
  2. ^ "No plan to revive 77 textile mills closed by NTC". Press Trust of India. 10 December 2009. Retrieved 22 December 2009. 
  3. ^ "NTC takes new avatar". The Hindu (Chennai, India). 24 December 2011. 
  4. ^ "NTC's surplus land sale". The Hindu (Chennai, India). 7 August 2010. 
↑Jump back a section

External links


Stub icon This article about textiles is a stub. You can help Wikipedia by expanding it.
Stub icon 1 Stub icon 2 This article about an Indian company is a stub. You can help Wikipedia by expanding it.
↑Jump back a section

Read in another language

This page is available in 1 language

Last modified on 8 May 2013, at 20:23