Tamil Nadu To Unveil ‘Enriched Textile Policy’ To Boost Industry Growth

Chennai, Mar 5 (KNN) The Tamil Nadu government is set to release an ‘enriched textile policy’ within the next week to ten days, signalling a strategic approach to revitalising the state's textile industry.

R. Gandhi, Minister for Handlooms and Textiles, announced this development during a press conference in Coimbatore on Tuesday, coinciding with the launch of a five-day Entrepreneurship Development programme focused on technical textiles.

The state has demonstrated a proactive stance towards industrial growth, having already received 100 applications for mini textile parks and approved 17 to date, with 10 of these located in Karur.

Previous policy initiatives include the removal of market cess for cotton in 2021 and relaxed regulations for mini textile parks to attract investments.

The current entrepreneurship training program reflects a collaborative effort, with the Central government providing Rs 10,000 per candidate and the state government contributing an additional Rs 5,000.

Financial support for the sector continues to be a key focus. The government plans to release Rs 10 crore this year as interest subsidy to enable spinning mills to modernise.

Senthil Balaji, Minister for Electricity, further emphasised the state's commitment by announcing an increase in free electricity units for handloom and powerloom units.

Industry experts are optimistic about the potential of technical textiles. A. Sakthivel, Chairman, Tiruppur Exporters Association, highlighted that while cotton garment production has reached saturation, the global market for technical textiles stands at an impressive USD 500 billion.

The current entrepreneurship development initiatives aim to encourage more participants to explore this promising sector.

Looking ahead, T. Rajkumar, Former Chairman, Southern India Mills Association, indicated that an imminent announcement is expected from the Central government regarding approvals for the PM MITRA park in Virudhunagar, which is set to be established on 1,000 acres.

This development underscores the ongoing efforts to strengthen Tamil Nadu's textile ecosystem and create new economic opportunities.

(KNN Bureau)