The National Textile Corporation is looking at economising on power front and increasing productivity. It has also taken up short-term modernisation. The first phase of this project, involving Rs 70 crores, will be completed shortly and the second phase will start in March this year and will see an investment of Rs140 crores. NTC will modernise all its mills through generation of funds from the sale of its surplus assets.

NTC exported yarn and fabric worth Rs 110 crores last financial year and wants to increase it. A road map is being prepared for NTC mills to meet market demand and upgrade technology. The plan will look at expansion, consolidation of the smaller units, limited modernisation and diversification to products such as technical textiles.

NTC incurred a cash loss, which was two per cent to three per cent of the total turnover, last financial year and it is expected to be at almost the same level this fiscal too. The National Textile Corporation was incorporated in 1968 for managing the affairs of sick textile undertakings in the private sector which were taken over by the government. It has a number of showrooms all over the country.