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Integrated Textile Policy
March 7 , 2019
2084 days
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- TN State government announced its Integrated Textile Policy on March 06.
- It will give thrust to sustainable growth of the entire textile industry, promoting technical textiles, and encouraging textile industry in the southern districts.
- The earlier State policy for the textile sector was announced in 1998.
- As per the new policy,
- State government will provide 100 per cent stamp duty exemption for technical textile projects,
- State will Give 6 per cent interest subsidy for technical textile projects in addition to incentives from the Central Government,
- 9 per cent of the project cost as state grant to set up technical textile parks under the Scheme for Integrated Textile Parks (SITPs).
- For the handloom sector, the interest subsidy extended to primary handloom weavers’ cooperative societies has been increased to 6 per cent from the existing 4 per cent.
- Allocation for the Rebate Subsidy Scheme will be hiked.
- Government will also make efforts to set up silk parks in clusters such as Kancheepuram, Salem, Arni, and Thirubhuvanam.
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