Telangana spinning and textile industry consumes only about one million bales of a total production of five million bales in the State, hence the industry needs encouragement from the Government. For which the Telangana Textile Mills Assoication has urged the State Government to a host of incentives including investment and interest subsidies in the proposed new industrial policy.
The spinning sector and technical textiles would need a minimum capital/investment of 20 percent and 30 percent respectively with interest subsidy benefit, said to V V Bhujanga Rao, secretary of the association.
The association has also suggested for setting up of incubation centres on lines of central government scheme for apparel and garments units with all necessary infrastructures to be given on lease with nominal rent to the entrepreneurs.
Reimbursement of 50 percent of value added tax/central sales tax or states good and services tax for a period of five years was also requested.
The industry has been suffering losses due power cuts to the tune of 30 to 50 percent for the last five years and quality power supply should be ensured round the clock. In case of shortage, industry should be allowed to purchase power under open access system without any cross subsidy.
Lastly, the Government should consider promoting mega textile projects with an investment of Rs. 100 crore plus a minimum employment generation for 600. Mega projects should be made eligible for all the incentives available for large industries with 100 per cent reimbursement of central or state taxes.
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