Tamil Nadu government announces sops for the textile industry

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Tamil Nadu government announces sops for the textile industry

To boost the growth of the Tamil Nadu textile sector, the Chief Minister Jayalalithaa has today promised several new measures that would help in the setting up of a consultative panel, so as to achieve an overall development in this sector.

"I am happy to announce that the Tamil Nadu government will extend financial support up to Rs 2.50 crore to entrepreneurs who come forward to set up Integrated Textile Parks," mentioned Jayalalithaa in the Assembly. Under the scheme for ‘Integrated Textile Parks’ of the Centre, 14 textile parks have been allocated for the state, she said.

Also, under the scheme for ‘Integrated Textile Processing Development’ of the Centre, the state government would give financial support up to 25% of the project estimate for the textile industries.Announcing the launch of a 'State Textiles Consultative Committee', she proposed it would be headed by the State Textiles Minister and it would work towards boosting the growth of the handloom & power loom sectors along with the yarn and apparel areas.

A special 15% discount for silk clothing was also proposed to bring down the inventory for the cooperative weavers societies and that would thereby entail an additional expenditure of Rs 10 crore. She also announced subsidy support schemes of Rs 22.55 crore, including a project to cultivate high yielding mulberry varieties in 5,000 acres of land operating through a subsidy of Rs 5.25 crore.