India’s Tamil Nadu Government is planning to set up a 1,500-acre textile park in the State’s Southern part and a textile park in capital Chennai. It will unveil a new integrated textile policy to attract investments, according to State Chief Minister MK Stalin, who recently said small textile parks are also being created with subsidy support of Rs. 2.5 cr.
The State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) has acquired over 1,500 acres for a mega textile park at Kumaralingapuram village in Virudhunagar District.
The Chief Minister was virtually addressing the International Conference on Technical Textiles organised by the Confederation of Indian Industry (CII) in partnership with the State’s Department of Textiles and the Central Ministry of Textiles.
The State Government is offering subsidy support of Rs. 1.5 cr to textile entrepreneurs and is setting up export hubs in Karur, Tiruppur and Kancheepuram to raise textile exports from the state that comprises 12 percent of the total textile exports from India now, he was quoted as saying.
Tamil Nadu-based companies signed six memoranda of understanding with firms in the United States, the Czech Republic and Japan in technical textile production and textile processing at the conference.
India’s Tamil Nadu Government is planning to set up a 1,500-acre textile park in the State’s Southern part and a textile park in capital Chennai. It will unveil a new integrated textile policy to attract investments, according to State Chief Minister MK Stalin, who recently said small textile parks are also being created with subsidy support of Rs. 2.5 cr.
