Port Wings News Network:
Tirupur Exporters Association (TEA) has welcomed the Tamil Nadu Government’s announcement of new Integrated Textile policy in Budget presented by Minister of Finance Shri O Panneerselvam in Tamil Nadu Assembly on 15 March 2018.
In a press release issued today, Shri. Raja M Shanmugham, President noted that early releasing of the policy with incentives at par with other states will boost investment in our state itself at a time when other states have come out with attractive Textile Policies and have been periodically inviting Tirupur entrepreneurs to invest in their respective states.
He welcomed the increased allocation for Skill Development from Rs.150 Crores to Rs.200 for providing training for two lakhs unemployed youth will help to the industry which is need of the hour to our industry. He also hailed the allocation of fund for removing the deficiencies in ITI and also allocation of more fund to ITIs.
He also welcomed the announcement of increasing the loan from Rs.1 Crore to Rs.5 Crore to first generation entrepreneurs and noted the enhancement of loan amount would encourage more entrepreneurs enter into knitwear sector.
He was glad for the announcement of implementation of long pending, a most sought after Avinashi – Athikadavu scheme at Rs.1789 Crore which would help to address the drinking water and irrigation issue in this region.