Ease of Doing Business for MSMEs: The Textile Department reached out to entrepreneurs and investors in the district of Tiruchi to spread the word about the benefits of the Mini Textile Park scheme, as per a report by The Hindu.
Earlier in December, potential investors in Tiruchi district were briefed about the salient features of the New Integrated Textile Policy 2019. The policy provides incentives and subsidies to different sectors to develop the textile industry.
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The department officials informed the participants that the policy is focussed on southern districts with the objective to grow the textile value chain and promote the technical textiles.
Subsidy worth Rs 2.5 crores or 50 per cent would be provided for establishment of each Mini
Further, the prospective investors got to know about the other important aspects of New Integrated Textile Policy 2019 which offers 10 per cent capital subsidy for all new machines. It also includes provision of 25 percent (with the ceiling of Rs 10 crores) for establishment of trade facilitation centre; 10 percent capital subsidy for wider width fabric processing; five percent interest subsidy for common effluent treatment plant; 15 percent capital subsidy for the individual effluent treatment plant, and Rs 1 crore Research and Development assistance for establishment of effluent treatment plant.
Meanwhile, in November, Tamil Nadu received 100 applications from representatives of textiles units to set up mini textile parks across the state and of these 43 are from Karur district, informed handlooms and textiles minister, R Gandhi, as per another report by The Hindu.
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The union government in an attempt to bring the second edition of Textile PLI earlier next year, has invested Rs 1,536 crore so far and is left with Rs 4,000 crore of unutilised budget.The second version of the scheme may cover bedspreads and textile accessories like lace, button, and zippers.