The Tamil Nadu government will unveil an "enriched textile policy," as announced by Handlooms and Textiles Minister R. Gandhi during a Coimbatore press conference coinciding with the launch of a technical textiles entrepreneurship program, signaling a strategic initiative to revitalize the state's textile industry.
Demonstrating a strong commitment to industrial growth, the state has approved 17 mini textile parks out of 100 applications received, with 10 located in Karur, building upon prior initiatives like the 2021 removal of cotton market cess and streamlined regulations for these parks, this proactive approach is further reinforced by a joint Central and state government entrepreneurship training program, which provides Rs 10,000 and Rs 5,000 per candidate, respectively.
Ongoing financial support is a priority, with the government allocating Rs 10 crore in interest subsidies for spinning mill modernization and Electricity Minister Mr. Senthil Balaji announcing increased free electricity units for handloom and powerloom units, this commitment is bolstered by industry optimism regarding technical textiles, as Tiruppur Exporters Association Chairman A. Sakthivel pointed out the saturated cotton garment market versus the substantial USD 500 billion global technical textile market.
To boost participation in the burgeoning textile sector, current entrepreneurship programs are actively encouraging new entrants, while anticipation builds for the Central government's imminent approval of the 1,000-acre PM MITRA park in Virudhunagar, as highlighted by T. Rajkumar, Former Chairman of the Southern India Mills Association; these efforts collectively reinforce Tamil Nadu's commitment to fortifying its textile industry and generating fresh economic avenues.
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