4 months ago
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The State authorities would allocate ₹30 crore each twelvemonth to widen 20% superior subsidy to investments aimed astatine modernising weaving and knitwear units, said Chief Minister M.K. Stalin connected Thursday.
Addressing the International Textile Summit 360 successful Coimbatore done video conference, Mr. Stalin said Tamil Nadu had been the largest exporter of ready-made garments successful India for the past 5 years. It held a 33% stock of the country’s textile concern and provided employment to 3.1 cardinal people, 60.12% of whom were women, helium said.
Hit by the 50% U.S. tariffs connected India’s textile and garment exports, the State is moving with the Centre to enactment the manufacture successful identifying caller markets, conducting buyer-seller meets, and removing the 11% import work connected cotton.
At the caller concern conclaves held successful Coimbatore, Madurai, and Thoothukudi, MoUs worth ₹9,764 crore were signed, and connected Thursday, 55 agreements worthy ₹915 crore were signed.
Earlier, inaugurating the league organised by the Confederation of Indian Industry and the Government of Tamil Nadu, Deputy Chief Minister Udhayanidhi Stalin said the authorities would guarantee the 6% involvement subvention strategy for spinning mills to enactment pre- and post-spinning activities.
Textiles would beryllium a cardinal pillar for the State to execute $1 trillion economy. The textile manufacture successful Tamil Nadu would conscionable the aboriginal with confidence, helium added.
Minister for Handlooms and Textiles R. Gandhi said the DMK authorities removed the 1% cess connected fabric and modified the Mini Textile Park Scheme announced by the AIADMK authorities successful 2015. The manufacture had not shown involvement successful the strategy then. After the DMK authorities relaxed norms and made disposable the ₹2.5-crore subsidy for immoderate concern successful the textile park, it received 101 applications. Nineteen of these person been approved and six are operational, helium added.
The Tamil Nadu New Integrated Textile Policy 2025-2026 focuses connected the modernisation of the textile worth concatenation successful the State. from spinning and weaving to method textiles.
Mr. Udhayanidhi disbursed subsidies nether the involvement subvention strategy for the spinning assemblage and superior concern subsidies for the processing assemblage and wider-width cloth printing machines for the cut-and-sew sector. He besides presented the champion exporter awards.
