Presently the Indian textile engineering industry is fulfilling only 45-50 per cent requirement of the domestic market of Rs 15,000 crore, while exports about Rs 6,500 crore worth textile machines and accessories. It has targeted to reach to Rs 25,000 crore by 2025.
Browsing: powerlooms
Reducing power tariff and raising capital subsidy for spinning mills are two key aspects of the new Maharashtra Textile Policy, which takes forward the ‘Make in Maharashtra’ concept to strengthen the cotton industry.
The Union Textile Ministry has recently announced Solar Energy Scheme for small powerloom units, by which the Indian Government will provide Rs 2.50 lakh subsidy per unit.
The Ministries of Power and Textiles have joined hands under a new initiative SAATHI (Sustainable and Accelerated Adoption of efficient Textile technologies to Help small Industries). Under this initiative, Energy Efficiency Services Limited (EESL), a public sector entity under the administrative control of Ministry of Power,etc.
A budget of Rs 1,200 crore has been allocated by the Government of Telangana for the textile sector for the year 2017-18. Around Rs 373 crore will be used for the handloom sector, while Rs 827 crore has been allocated for powerlooms and its modernisation.
Today the need of hour for powerlooms is proper marketing of products in order to gain profit and flourish business activity. Maharashtra is having the highest number of powerlooms among other states. Some of the major clusters of powerloom in the state are Bhiwandi, Ichalkaranji, Solapur, Malegaon etc.
The Tamil Nadu government is gearing up to launch new schemes to uplift the State’s textile sector, which: increasing free power to handloom from 100 units to units 200 units a month and from 500 units to 700 units a month for the powerlooms.