Ravi Sam, Chairman of The Southern India Mills’ Association (SIMA) has hailed the various salient features of the State Budget describing it as a comprehensive and growth-oriented budget.
He thanked the Chief Minister for allocating Rs.32,660 crores for the industry that would attract huge investments in the State and create new jobs for several lakhs of people. He has said that the textile industry is the largest industry of the State that accounts 1/3rd of the textile business size of the Nation would be greatly benefited out of the various benefits extended under the Industrial Policy that encourages scale of operation.
Ravi Sam stated that the allocation of Rs.2,400 crores for the infrastructure development and tackling the industry 4.0 initiatives for the Industrial Training Institutes (ITIs) in the State would help the industry to get skilled manpower to manage the future generation technology.
SIMA Chief appreciated the announcement of implementing various special programs jointly with the industry to create a skilled labour force. The new industrial parks to be developed in five districts including in Vellore, Coimbatore and Perambalur to attract over Rs.50,000 crore investments would considerably increase the economical growth of the Nation says, Ravi Sam.
He stated that the ambitious target of 14% growth rate would encourage the textile industry in Tamilnadu to scale up the production, make investments in greenfield projects, etc. He also appreciated the announcement of export infrastructure development in major export hubs including Tirupur which would benefit the textile industry to boost its exports.
SIMA Chairman reiterated the historical announcement of removing Agricultural Market Committee Fee levied on seed cotton, cotton and cotton waste that prevailed since 1959 has already greatly benefited the cotton textile value chain and the cotton farmers.
He has hoped that adequate budget allocation will be made to increase cotton production, productivity especially the ELS cotton production in the State as the State produces only five lakh bales of cotton as against its annual requirement of 120 lakh bales. Ravi Sam has stated that the State has huge potential to increase the speciality cotton especially Extra Long Staple cotton, sustainable cotton and organic cotton. He has said that SIMA has already submitted its proposal for the development of substantial cotton in the State.