Tamil Nadu Comprehensive Textile Policy 2019, a unique one, hails SIMA

Tamil Nadu was the first State to come out with the Textile Policy in the year 1998.  Thereafter, the Government has been extending various benefits and contemplating to come out with a comprehensive textile policy for the last 10 years. Hon’ble Chief Minister of Tamil Nadu, Mr.Edappadi K Palanisamy has recently  released Tamil Nadu Comprehensive Textile Policy 2019 announcing various unique benefits.

Mr.P. Nataraj, Chairman, SIMA

Mr.P.Nataraj, Chairman, The Southern India Mills’ Association (SIMA) has thanked the Hon’ble Chief Minister and Hon’ble Minister for Handlooms & Textiles, Mr.O.S. Manian and also welcomed the various benefits announced in the policy.  He has thanked the government for extending 2% interest subsidy for modernizing spinning machines of above 15 years old.  He said that out of 24 million spindles in the State, around 11 million spindles are above 15 years old and this benefit would help the spinning sector to modernize the same.  He welcomed the various benefits extended for the weaving and garment sectors including 10% capital subsidy for all new machines.  He appreciated the announcement of 25% of the project cost with the ceiling of Rs.10 crores for trade facilitation centre. He has stated that 10% capital subsidy for wider width fabric processing, 5% interest subsidy for common effluent treatment plant, 15% capital subsidy for the individual effluent treatment plant, Rs.1 crore R & D assistance for effluent treatment plant would greatly benefit the processing segments in Tamilnadu.

SIMA Chief has highly appreciated the slew of incentives offered for technical textiles including 9% capital subsidy, 6% interest subsidy, 100% stamp duty exemption and also providing Rs.1 crore assistance for overseas study.  Mr.Nataraj has appreciated the incentives offered for setting up the mini textile parks by extending 50% subsidy or Rs.2.5 crores per park.  He has said that this would help the small scale units to consolidate the capacity and modernize.

SIMA Chief has also welcomed 5% additional capital subsidy extended for Southern Districts.  He has said that the assistance provided for meeting compliance cost and acquiring technology would help Tamilnadu textile industry in a big way.  50% subsidy subject to maximum of Rs.1.5 crore for construction of labour quarters would greatly benefit the entire textile industry in the country.  Rs.5 crores assistance extended for upskilling of garment workers would greatly benefit the Tirupur cluster, said Mr.Nataraj.    He also stated that Tamilnadu Textile Policy would go a long way and make the State to remain as No.1 in the country.