The Lok Sabha today passed the Textile Undertakings (Nationalisation) Laws (Amendment and Validation) Bill,2014. The Bill aims at continuing with the lease-hold rights vested in National Textile Corporation, NTC, on completion of the lease-hold tenure.

This Bill helps expedite revival of sick textile units. Replying to a debate on the Bill in the House, Union Textile Minister Santosh Kumar Gangwar said that government is committed to revive the sick textile mills and considering a special package to them. The Minister underlined the need to evolve various ways and means to run the textile mills. He also announced that the government will soon come out with a new textiles policy and set up one textile park in each state.