TN textile sector likely to see some growth with measures announced by Jayalalithaa

YarnsandFibers News Bureau 2015-09-02 11:00:00 – Chennai

Tamil Nadu Chief Minister Jayalalithaa to strengthen the textile sector in the state has taken up measures to boost the growth of the textile sector. She announced in the Assembly today that the Tamil Nadu government will extend financial support up to Rs2.50 crore to entrepreneurs who come forward to set up Integrated Textile Parks and would be setting up a consultative panel to achieve integrated development.

Under the Scheme For Integrated Textile Parks of the Centre, 14 textile parks have been allocated for the state and under the Scheme for Integrated Textile Processing Development of the Centre, the state government would give financial support up to 25 percent in the project estimate for textile industries.

Stating that the Centre had halted financial support for some schemes from 2015-16, she said that the state would however pitch in and bear the Centre's share for important projects.

She also announced schemes with subsidy support to the tune of Rs. 22.55 crore, including a project to cultivate high yielding mulberry varieties in 5,000 acres by giving a subsidy of Rs. 5.25 crore.

A special 15 percent discount for silk clothing would be given to further drive sales and bring down inventory with cooperative weavers societies and it would entail an additional expenditure of Rs. 10 crore, she said.

She also announced that a State Textiles Consultative Committee will be formed, headed by the Textiles Minister to aid the growth of the industry and strengthen hand and power loom, yarn and apparel.

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