The Southern India Mills’ Association (SIMA) expressed its happiness and welcomed the Tamil Nadu Comprehensive Textile Policy 2019 released by Edappadi K Palanisamy, CM, Tamil Nadu.
P.Nataraj, Chairman, SIMA thanked the CM and extended his gratitude to O.S.Manian, Minister for Handlooms & Textiles. He welcomed the various benefits announced in the policy and 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, the announcement of 25% of the project cost with the ceiling of Rs.10 crores for trade facilitation centre, 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 Tamil Nadu.
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.
Nataraj also welcomed 5% additional capital subsidy extended for Southern Districts. He has said that the assistance provide 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.