UP state govt’s draft textile policy welcomed by FICCI and UP unit

Related Keywords: capital subsidy, Co -Chairman S K Khandelia, discuss draft textile policy for the State. Chairman L K Jhunjhunwala, FICCI detailed suggestions formulated, Meeting called by the Chief Minister Yogi Adityanath, Open access for existing and new units, policy to uplift the textile sector, welcomed draft Textiles Policy of UP

Lucknow
UP state govt’s draft textile policy welcomed by FICCI and UP unit
Summary: 
At a meeting called by the Chief Minister Yogi Adityanath, to discuss the draft textile policy for the State. Chairman L K Jhunjhunwala and Co -Chairman S K Khandelia who attended the meeting on Tuesday welcomed the draft Textiles Policy of UP, claiming in a statement that this policy will uplift the sector in the State.

At a meeting called by the Chief Minister Yogi Adityanath, to discuss the draft textile policy for the State. Chairman L K Jhunjhunwala and Co -Chairman S K Khandelia who attended the meeting on Tuesday welcomed the draft Textiles Policy of UP, claiming in a statement that this policy will uplift the sector in the State.

Prior to the release of the draft policy, FICCI had submitted detailed suggestions to the UP Government for formulation of a vibrant and competitive Textiles Policy.

http://www.uniindia.com/news/states/ficci-up-unit-welcomes-draft-textile-policy-of-yogi-govt/1060754.html
0

AEPC expects Rs 5,000cr fresh investment to flow into the sector this year

Related Keywords: AEPC, an apparel industry body, Apparel Export Promotion Council, capital intensive industry, capital subsidy, during the current fiscal, duty on exports still a worry, enhance duty drawback, expecting around Rupee five thousand crore fresh investments, flow into textile and garment sector, highly labour intensive, textile booster package

Mumbai
AEPC expects Rs 5,000cr fresh investment to flow into the sector this year
Summary: 
Apparel Export Promotion Council (AEPC), an apparel industry body is expecting around Rs 5,000 crore fresh investments to flow into the sector during the current fiscal which may create as many as two million jobs with textile booster package of Rs6,000 crore announced by the government.

Apparel Export Promotion Council (AEPC), an apparel industry body is expecting around Rs 5,000 crore fresh investments to flow into the sector during the current fiscal which may create as many as two million jobs with textile booster package of Rs6,000 crore announced by the government.

AEPC chairman Ashok G Rajani said that based on the initial feedback he has received, around Rs 5,000 crore may flow into the industry in fresh capex this fiscal year itself as government announcement of textile package comes as a game changer.

http://indiatoday.intoday.in/story/apparel-industry-to-see-rs-5000cr-investment-this-year-aepc/1/706623.html
0

Govt to re-introduce Tufs with some tweaks for at least 10 yrs for textiles

Related Keywords: capital subsidy, long term policy, Ministry of textile, new textile policy, states share in central taxes increased, to reintroduce Tufs, Union government, with some tweaks

Mumbai
Govt to re-introduce Tufs with some tweaks for at least 10 yrs  for textiles
Summary: 
The Union government is looking to re-introduce the Technology Upgradation Fund Scheme (Tufs) with some tweaks; states might be asked to fund it. They are also looking for a long term policy perhaps for at least 10 years, in the new textile policy, scheduled to be out by month-end, said Sanjay Kumar Panda, Secretary, ministry of textile on Thursday.

The Union government is looking to re-introduce the Technology Upgradation Fund Scheme (Tufs) with some tweaks; states might be asked to fund it. They are also looking for a long term policy perhaps for at least 10 years, in the new textile policy, scheduled to be out by month-end, said Sanjay Kumar Panda, Secretary, ministry of textile on Thursday.

In the revised policy, the onus of funding the sector is likely to be put on the states where factories exist. As, the states’ share in central taxes has been increased to 42 percent from 32 per cent earlier.

http://www.business-standard.com/article/economy-policy/govt-to-re-introduce-technology-upgradation-fund-for-textiles-115040900875_1.html
0

Knitwear manufacturers demand for separate textile board in TN

Related Keywords: capital subsidy, demand separat State textile board, development of textile industry, effluent treatment plant, expansion of capacity, focussed approach, interest subsidy, separat textile policy, Tamil Nadu knitwear manufacturers, Tirupur knitwear cluster

Tamil Nadu
Knitwear manufacturers demand for separate textile board in TN
Summary: 
Tamil Nadu knitwear manufacturers demand for a separate State Textile Board and also devise a separate textile policy. In a memorandum sent to Chief Minister O. Paneerselvam, the industrialists said that a Textiles Board, and a textile policy would help the government give a focused approach to the development of textile industry.

Tamil Nadu knitwear manufacturers demand for a separate State Textile Board and also devise a separate textile policy. In a memorandum sent to Chief Minister O. Paneerselvam, the industrialists said that a Textiles Board, and a textile policy would help the government give a focused approach to the development of textile industry.

http://www.thehindu.com/news/national/tamil-nadu/set-up-separate-textile-board-knitwear-makers/article7017640.ece
0

State govt set up six member committee to easy shifting of textile mills

Related Keywords: Amravati, capital subsidy, cotton growing area, develop land, Devendra Fadnavis, easy shifting of textile mills, help NTC shut mills, land in Mumbai, Maharashtra Chief Minister, National Textile Corporation, set up textile units, textile policy

Mumbai
State govt set up six member committee to easy shifting of textile mills
Summary: 
Maharashtra chief minister Devendra Fadnavis in a meeting with National Textile Corporation (NTC) official a fortnight ago made it clear that the government would help NTC shut its mills in Mumbai and develop the land, provided it set up textile units in Amravati. The condition is to set up the mills there, operationalize them and only then would the government allow NTC to commercially exploit its land in Mumbai.

Maharashtra chief minister Devendra Fadnavis in a meeting with National Textile Corporation (NTC) official a fortnight ago made it clear that the government would help NTC shut its mills in Mumbai and develop the land, provided it set up textile units in Amravati. The condition is to set up the mills there, operationalize them and only then would the government allow NTC to commercially exploit its land in Mumbai.

The decision likely to be opposed by political satraps in Satara, Sangli, Solapur and Ichalkaranji who have interests in the textile industry in these regions.

http://timesofindia.indiatimes.com/city/mumbai/Panel-set-up-for-shifting-of-textile-mills/articleshow/46201847.cms
0

Madura Lifestyle plan to set up greenfield garment manufacturing plant in Odisha

Related Keywords: Adity Birla group enterprise, ancillary unit, capital subsidy, full waiver of VAT, good packaging unit, Greenfield garment manufacturing unit, Madhura Fashion and Lifestyle, Mancheswar industrial area, Odisha, premium branded apparel segment, washing unit

Bhubaneswar
Madura Lifestyle plan to set up greenfield garment manufacturing plant in Odisha
Summary: 
Madura Fashion & Lifestyle, an Aditya Birla Group enterprise, largest player in premium branded apparel segment has plan to set up a Greenfield garment manufacturing unit in Odisha for which it has lined up an investment of Rs 75 crore in three phases.

Madura Fashion & Lifestyle, an Aditya Birla Group enterprise, largest player in premium branded apparel segment has plan to set up a Greenfield garment manufacturing unit in Odisha for which it has lined up an investment of Rs 75 crore in three phases.

It has sought 6-8 acres of developed land in Mancheswar industrial area in the city along with other incentive and concessions for putting up the facility.

http://www.business-standard.com/article/companies/madura-lifestyle-proposes-greenfield-textile-unit-in-odisha-114120300289_1.html
Company News
0

Govt aims for modernization in powerloom sector allocates Rs 11,952 cr

Related Keywords: 12th plan period, allocate funds, capital subsidy, interest reimbursement, margin money subsidy, Modernization, powerloom sector, RR_TUFS, Textile Park

New Delhi
Govt aims for modernization in powerloom sector allocates Rs 11,952 cr
Summary: 
Under the Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS) to be implemented during the 12th Plan period, government has decided to allocate funds worth Rs.11,952 crore to bring modernization in the powerloom sector.

Under the Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS) to be implemented during the 12th Plan period, government has decided to allocate funds worth Rs.11,952 crore to bring modernization in the powerloom sector.
 

http://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/government-allocates-rs-11952-crore-for-powerloom-sector/articleshow/39352532.cms
0

Gujarat show mammoth interest in TUFS with 90pc applications

Related Keywords: ATIRA, capital subsidy, Gujarat textile industry, processing, readymade garment sectors, RRTUFS, SITP, Technical textile, Textile Commissioner, TUFS

Ahmedabad
Gujarat show mammoth interest in TUFS with 90pc applications
Summary: 
Gujarat textile industry taking maximum benefit from the Technology Upgradation Fund Scheme (TUFS). In TUFS under 15 percent MMS, 90 percent of the application were received from Gujarat, stated Kiran Soni Gupta, IAS, Textile Commissioner at the meeting held at the Ahmedabad Textile Industries Research Association (ATIRA) between the Textile Commissioner and textile industry stakeholders on Tuesday.

Gujarat textile industry taking maximum benefit from the Technology Upgradation Fund Scheme (TUFS). In TUFS under 15 percent MMS, 90 percent of the application were received from Gujarat, stated Kiran Soni Gupta, IAS, Textile Commissioner at the meeting held at the Ahmedabad Textile Industries Research Association (ATIRA) between the Textile Commissioner and textile industry stakeholders on Tuesday.
 

http://www.business-standard.com/article/companies/tufs-saw-90-of-applications-from-gujarat-textile-comm-114072201116_1.html
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