Home / Knowledge / News / Textiles / TN govt sanctions Rs 1bn for jute entrepreneurs
TN govt sanctions Rs 1bn for jute entrepreneurs
12
Aug '11
To promote Micro, Small and Medium Enterprises (MSMEs) of jute industry in the State, the Tamil Nadu government has sanctioned a sum of one billion rupees.

The one billion rupees allotted in the 2011-12 interim budget would be utilised by the State government to provide the export-oriented coir and jute based industries with credit and technology support.

Tamil Nadu has the maximum number of MSMEs, constituting around 15.07 percent of the total MSMEs in the country.

The State government proposes to develop a venture capital fund for these MSMEs with the help of foreign investment and private enterprise to support the local Entrepreneurship Development Institute (EDI).

In the interim budget presented last week, State Finance Minister O Panneerselvam said that the EDI would also build a corpus fund, wherein various resources would be gathered from not only the Central and State governments, but also from financial institutions.

He stated that the State government intends to rejuvenate EDI to encourage and provide training to young industrialists, especially the first generation youth.

He added that based on the feasibility, the land of the non-operational cooperative spinning mills would be used for establishing new industrial estates so as to encourage the MSME sector and thereby to create new job opportunities.

Fibre2fashion News Desk - India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search