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Pat for TN textile policy

Mar 08, 2019
Pat for TN textile policy

P Nataraj, Chairman, the Southern India Mills’ Association (SIMA) has thanked the Chief Minister and Minister for Handlooms & Textiles, OS Manian and also welcomed the various benefits announced in the policy. He has thanked the Government for extending 2 per cent interest subsidy for modernising spinning machines of above 15 years old. He said that out of 24 million spindles in the State, around 11 million spindles are above 15 years old and this benefit would help the spinning sector to modernise the same. He welcomed the various benefits extended for the weaving and garment sectors including 10 per cent capital subsidy for all new machines. He appreciated the announcement of 25 per cent of the project cost with the ceiling of Rs 10 crore for trade facilitation centre. He has stated that 10 per cent capital subsidy for wider width fabric processing, 5 per cent interest subsidy for common effluent treatment plant, 15 per cent capital subsidy for the individual effluent treatment plant, Rs 1 crore R&D assistance for effluent treatment plant would greatly benefit the processing segments in Tamil Nadu.

SIMA Chief has highly appreciated the slew of incentives offered for technical textiles including 9 per cent capital subsidy, 6 per cent interest subsidy, 100 per cent stamp duty exemption and also providing Rs 1 crore assistance for overseas study. Nataraj has appreciated the incentives offered for setting up the mini textile parks by extending 50 per cent subsidy or Rs 2.5 crore per park. He has said that this would help the small scale units to consolidate the capacity and modernise.

Nataraj has also welcomed 5 per cent additional capital subsidy extended for Southern Districts. He has said that the assistance provide for meeting compliance cost and acquiring technology would help Tamil Nadu textile industry in a big way. 50 per cent subsidy subject to maximum of Rs 1.5 crore for construction of labour quarters would greatly benefit the entire textile industry in the country. About Rs 5 crore assistance extended for upskilling of garment workers would greatly benefit the Tiruppur cluster, said Nataraj. He has stated that Tamil Nadu Textile Policy would go a long way and make the State to remain as No.1 State in the country.