Center likely to provide subsidy to power looms running on solar energy

YarnsandFibers News Bureau 2016-06-11 17:00:00 – New Delhi

As part of clean energy initiative, from August 15, power looms in the country will utilize solar energy for running their operations. Textile Minister Santosh Gangwar said that the Centre is considering to provide 50 percent subsidy to them.

The total subsidy to be given is Rs.3.75 lakh to persons belonging to the General Category, Rs.5.62 lakh for OBC category and Rs.6.75 lakh to SC/ST.

Speaking on the achievements of textile ministry during the past two years, Gangwar said that more than Rs.6,500 crore has been spent by the ministry on various schemes, for promotion and development of the textiles sector. Approximately five lakh additional jobs have been created in the past two years in the textiles sector.

Also a range of initiatives has been taken, keeping in mind that it is important handloom weavers get due respect as well as compensation for their work. Their aim is to increase the earning of handloom weavers to Rs 500 per day.

The textile ministry was in talks with the finance ministry on measures to ensure that the textiles sector gets access to credit at affordable rates. The national textiles policy will also be announced soon, adding that a Cabinet note has been floated in this regard.

Efforts are also on to increase the competitiveness of the Indian textiles and apparel sector in global markets. India has to take advantage of the rising wage costs in China, which is the predominant player in the sector now.

Also, Integrated Processing Development Scheme was rolled out to provide up to 50 percent assistance for Common Effluent Treatment Plants with Zero Liquid Discharge system, subject to a ceiling of Rs.75 crore.

Gangwar said that the Amended Technology Upgradation Fund Scheme was rolled out in January 2016 with a budget provision of Rs.17,822 crore for the next seven years, it is expected to attract an investment of Rs. 1 lakh crore and generate jobs for 30 lakh persons.

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