National Textile Corporation Limited, (NTC) is a schedule “A” Central Public Enterprise under the Ministry of Textile, Government of India, which was incorporated in April 1968 for managing the affairs of sick textile undertaking in the Private Sector, taken over by the Government.
National Textile Corporation Ltd. (NTC) was established primarily to manage the affairs of the sick textile undertakings taken over by the Govt. of India in three Nationalization Acts in the years 1974; 1986; and 1995. On account of obsolete technology; excess manpower; poor productivity, etc. 8 of its 9 subsidiaries were referred to BIFR in the year 1992-94. The BIFR approved Revival Schemes for all the 9 subsidiaries – 8 of them in the year 2002-03 and 9th in the year 2005. The Company has been implementing the Revival Scheme since then.
NTC engaged in production of yarn and fabric through its 23 mills in operation, located all over India with 7.68 lac spindles and 408 looms producing around 500 lac kgs of yarn and 200 lac meters of fabric per annum. NTC also manufactures garments through its JV Companies. In addition National Textile Corporation has well established retail network throughout the country with its 85 retail stores. The current employee strength is around 8000. The present net worth of the NTC as on 31.03.2022 is Rs. 763.11 Crores (Provisional).
The historical details of 119 mills referred to BIFR out of total 124 Nationalized through three Nationalization Acts. The details are as under:
(i) 77 mills have been closed (78 mills closed under ID Act but one closed mill namely Vidarbha Mill, Achalpur was started again as Finlay Mills, Achalpur).
(ii) 23 mills under operation by NTC (Including one new mill set up at Hassan).
(iii) 16 units slated for revival through JV route 5 units have been revived and remaining 11 units where MOU for JV was signed were cancelled on review. Matter in case of these 11 mills is sub-judice before Court/Arbitral Tribunal.
(iv) 2 mills transferred to Govt. of Pudducherry.
(v) 2 mills in Rajasthan at Udaipur & Beawar not operational.
Presently NTC is operating 23 Textile Mills located throughout the country.