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Statements

Subject Item
dbr:National_Textile_Corporation
rdf:type
dbo:Company yago:WikicatTextileCompaniesOfIndia yago:WikicatCompaniesBasedInNewDelhi yago:WikicatGovernment-ownedCompaniesOfIndia yago:Institution108053576 yago:Company108058098 yago:YagoLegalActor yago:YagoLegalActorGeo yago:YagoPermanentlyLocatedEntity yago:SocialGroup107950920 owl:Thing yago:Abstraction100002137 yago:Group100031264 yago:WikicatCompaniesEstablishedIn1968 yago:Organization108008335
rdfs:label
National Textile Corporation
rdfs:comment
National Textile Corporation is a central public sector undertaking under the ownership of Ministry of Textiles , Government of India It owns 23 working textile mills which produce yarn and fabric. The company was incorporated in April 1968. 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.
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dbc:Ministry_of_Textiles dbc:1968_establishments_in_Delhi dbc:Government-owned_companies_of_India dbc:Companies_based_in_Mumbai dbc:Economy_of_Mumbai dbc:Textile_companies_based_in_Maharashtra dbc:Cotton_industry_in_India dbc:Manufacturing_companies_established_in_1968
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dbo:abstract
National Textile Corporation is a central public sector undertaking under the ownership of Ministry of Textiles , Government of India It owns 23 working textile mills which produce yarn and fabric. The company was incorporated in April 1968. 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. The National Textile Corporation Limited (NTC) 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 ₹100 million (US$1.3 million) which was raised from time to time and which is now ₹50 billion (US$630 million) and the paid up share capital of the corporation is ₹30,621.6 million (US$380 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.The present CMD is Shri Nihar Ranjan Dash. 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.
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