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India's AEPC seeks fund release for KTM project in Tirupur
Sep '13
The Apparel Export Promotion Council of India (AEPC), the country’s apex body for apparel export promotion, has sought immediate release of Rs. 182.4 million from the Textiles Ministry for the Knitwear Technology Mission (KTM) project in the Tirupur district of the Indian state of Tamil Nadu.
AEPC chairman A Sakthivel has appealed to the Textiles Minister K Sambasiva Rao to release the sum before September 30, 2013, to avoid lapses, reports The Hindu Business Line.
Mr. Sakthivel said the AEPC was granted Rs. 50 million during the first phase of the KTM project for procurement of equipments and machines, of which the apex body utilized around Rs. 10 million and returned the remaining amount to the Ministry.
The AEPC has already procured the land and constructed classrooms as well as laboratories, and to set up the garment section, knitwear and embroidery machines, design studio, establishment cost, project management and operation costs, and the council requires financial support of Rs. 182.4 million, he added.
The project aims to develop synthetic knitwear sector in India, including initiating product development and providing training opportunities for workers in the sector.
The KTM project was launched in Tirupur in 2008, with the objective of helping the export community in the knitwear sector to develop wider range of products from different kinds of fabrics in order to gain access to a larger market.

Fibre2fashion News Desk - India

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