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Textile units look for immediate steps from govt to stay competitive in global market

YarnsandFibers News Bureau 2015-10-07 10:00:00 – Tamil Nadu

Around 300 textile units in the region have made separate representations to Prime Minister Narendra Modi listing out the immediate steps required from the government to support them remain competitive, as they are currently facing stiff competition in the global market.

Textile entrepreneurs wanted the intervention of the Union Government to ensure speedy disbursal of subsidies under the Technology Upgradation Fund (TUFS).

Prabhu Damodaran, secretary of Indian Texpreneurs Federation, an umbrella organisation of the 300 units said that though the Textile Commisisonerate in Mumbai has released the Expression of Interest from audit firms to clear the pending claims under TUFS, nothing has happened thereafter.

Projects started during the ‘blackout period’ set for TUFS – June 29, 2010, and April 27,2011 – too should be considered for payment of subsidies.

According to the entrepreneurs hank yarn obligation should be scrapped as it was a major deterrent for growth and economic viability of textile mills in the region. This age-old stipulation mandates the units to produce a minimum 40 percent of the yarn as hank yarn. Due to this, there is an excess production of hank yarn as the consumption of the same has come down because of the growth of power loom sector.

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