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Silent Features of Textile Industry.
  • Textile industry has been always been important in India because of its immense contributiion to Indian economy in termns of
    • Foreign Exchange earnings
    • Employment generation
    • Support to Agriculture
    • Contribution to GDP
  • Maharashtra is a very Important State for Textile Industry
  • Accommodates major proportion of power looms
  • Largest no. of modern looms
  • Large no. of cooperative spinning mills
  • Major cotton growing State (avarage 60 to 65 lacs bales per year)
  • Most of the cooperative units are Spinning Mills and Plain Power looms
  • A few Units of Modern looms (Automatic and Shuttle less)
  • Government of India has been supporting Textile Industry by providing various incentives such as TUFS, SITP and Cluster Development Schemes etc.
  • Maharashtra Government has announced new textile policy for supporting this industry
  • Major Schemes under State Textile Policy -
    • Scheme of Interest Subsidy on long term loans linked to the Centrally Sponsored TUFS.
    • 10% Capital subsidy to new textile units set up in Vidarbha, Marathwada and North-Maharashra
    • Capital subsidy for modernisation of powerloom units of S.C./S.T./Minorities
    • Equity support as per the existing financial pattern to co-operative spinning mills in Vidarbha, Marathwada and North Maharashtra
    • Support and loan as per the existing financial pattern to co-operative powerloom units in the State.
    • Capital subsidy to integrated textile parks.(9% of the project cost or 9 cr. whichever is less)

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Textile News

Textile News in Details
Government initiatives in promoting the growth of the T&A sector
news Government initiatives in promoting the growth of the T&A sector

 THE TEXTILE MAGAZINE - Sep. 2012:   The textile & apparel industry is supported by government schemes and plans in various ways. Mr. Sunil Porwal, Principal Secretary - Textiles, Government of Maharashtra, elaborated on leveraging the Government of India's TUFS through a "zero-window policy", which requires a required number of sanctions and no interface with the Government, i.e., the project gets automatically approved. Interest subsidy schemes are also available for projects across the State under TUFS, with similar modalities.

The capital subsidy scheme is applicable only to the backward parts of the State, viz., Vidharbha, Maratha wada and northern Maharashtra. The Maharashtra Government also plans to give some capital subsidy if the project is located in any of these three regions.

In addition to these financial packages, Mr. Porwal also announced a few enabling provisions targeting skill development, worker development, modernisation of powerlooms for SC/ST and minorities and modification in labour and environmental laws.

New textile policy, a boon to Maharashtra
Knitting a success story: The investment will create employment for about 16,000 persons in the State.
MUMBAI, AUG. 7:          At a time when industries are holding back their investment, the textile industry in Maharashtra is swimming against the tide. In the last four months, Maharashtra has managed attract several small investments aggregating Rs 2,101 crore in 218 textile projects. These investments have come under the new State textile policy. The approvals for new textile projects are being fast-tracked under the new policy. The policy had come into effect in April and most of the investments are for setting up new weaving, power loom, cotton spinning, and ginning units. A senior Maharashtra Government official said these projects have managed to get funding from the banks and have achieved financial closure. In the coming three years, the investment (Rs 2,101 crore) will create employment for about 16,000 persons in the State. State.

The projects need only to get their cleareance by banks under the Centre’s Technology Upgradation Fund Scheme (TUFS). Once banks approve the project, the State Government approval is automatic, the official said. TUFS approval process is robust. All technical and financial aspects are properly examined before banks give final clearance, the official said. Interest subsidy and capital subsidy for projects coming up in Vidarbha, Marathwada and Northern Maharashtra, are the attracting a number of companies under the new policy, the official said.

INTEREST SUBSIDY Interest subsidy is offered for seven years. The subsidy works out to five per cent of the interest cost. On the total capital investment, the State Government provides 10 per cent capital subsidy. When contacted, Maharashtra’s Textile Secretary, Mr Sunil Porwal, said the policy was getting a positive response from the textile industry. By the end of the current fiscal about Rs 10,000 crore investment and 1,000 new projects are expected in the State.
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