Textile policy focuses on weaving, processing and technical textiles

The new integrated textile policy announced by the Tamil Nadu government last month gives thrust to investment in the processing, weaving, and technical textile segments.

Sixteen textile associations in Tamil Nadu met Chief Minister M.K. Stalin in Chennai on Friday and thanked the Tamil Nadu government for a series of measures taken in the last four years for the sector.

A press release from the associations said the policy offers 1.6% interest subvention for all the spinning machines, 20% capital subsidy for 1,000 looms to modernise as shuttleless looms, 50% capital subsidy to upgrade 3,000 powerlooms as raiper shuttleless looms, 5% to 25% subsidy to establish worksheds for shuttleless looms in powerloom clusters, 25% capital investment subsidy to set up new textile processing units and individual ETPs, and 25% for expansion, modernisation, or upgradation of existing textile processing units and IETPs, 25% capital investment subsidy to set up manufacturing facility for non-conventional fibres/yarn, ₹15 crore to accelerate growth and promote diversification into technical textiles and ₹ 25 crore for research and business development fund for technical textiles and manmade fibre, and 50% capital investment subsidy for purchase of fully computerised cutting machine with CAD / CAM software.

The Tamil Nadu government has removed 1% market committee cess on seed cotton, cotton waste and cotton lint; advised the Cotton Corporation of India to commence depot sale in Tamil Nadu, implemented the PM MITRA Park at Virudhunagar, included machinery in addition to infrastructure and made the mini textile park scheme investment friendly, launched sustainable cotton mission for increasing the cotton production and productivity in Tamil Nadu, and announced a viscose fibre production factory near Thoothukudi to strengthen the competitiveness of Viscose Staple Fibre value chain in the State.