India textile sector needs more stimulus - minister

NEW DELHI, June 1 Mon Jun 1, 2009 5:11pm IST

NEW DELHI, June 1 (Reuters) - The Indian textile sector will require more fiscal stimulus from the government and 300 billion rupees of investment annually to maintain growth momentum, the textile minister said on Monday.

"There are many challenges before the textile sector. The government will impart momentum to this $52 billion industry by striving to achieve a growth rate of 8-10 percent per annum," Dayanidhi Maran told reporters.

India's textile exports have been hit after recessions at developed nations. (Reporting by Rajesh Kumar Singh; Editing by Ramya Venugopal)