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Kerala gets Rs 15 crore to revitalise textile sector
29 Dec '16
1 min read
Spinning mills in the public sector of Kerala will soon be operational as Rs 15 crore has been allocated to procure raw material and carry out repair works for revitalising the textile sector of the state. Multiple factors such as pending power bills, lack of capital, raw material and statutory payments affected the functioning of spinning mills.
Kerala’s industries minister AC Moideen made the announcement at a meeting of the trade union leaders. He also listed other reasons like a hike in the price of yarns and high capital investments required for importing latest equipment and machinery as reasons for the stagnation of the state’s textile industry.
Moideen also said that an expert committee will be formed to analyse the problems of the textile industry and come up with suggestions and recommendations to revive it in March next year. (KD)
Fibre2Fashion News Desk – India
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