Erode Textile Mall Ltd is going good on its vision by launching Tex Valley, largest textile mall in South India and Asia’s Iconic B2B trading centre. The project, a PPP initiative, is being supported by the Ministry of Textiles , Government of India under its Comprehensive Power Loom Cluster Development Scheme (CPCDS) that aims at bridging the Infrastructural gap of the Textile Industry in India.
Texvalley, a mega integrated textile park being set up at Erode with an investment of Rs. 450 crore with the initial contribution of Rs.50 crore by Erode-based Lotus Agency and URC Constructions while the Union Textile Ministry has granted a subsidy of Rs.40 crore. The construction work is nearing completion and the park will cater to the textile merchants in the region which is expected to become operational by June this year
The project, taken up under the CPCDS of the central and state textile ministries, is coming up on a 16-acre site at Gangapuram, a village panchayat in Erode district, Tamil Nadu having 6,500 stalls, Texvalley Managing Director P Raajashekar said on Wednesday. Already more than 5,000 merchants have booked stalls in the TexValley.
Texvalley aims at offering a platform for textile merchants who are presently doing their business in the weekly shandies in three locations in the city.
The integrated marketing facility would provide adequate opportunities for the textile industries in this part of the State to market their products effectively. The complex would primarily benefit the small and medium textile manufacturers and traders, as it would bring in all the weekly markets in Erode under a single roof.
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