Home / Knowledge / News / Textiles / TN govt sanctions Rs 1bn for jute entrepreneurs
TN govt sanctions Rs 1bn for jute entrepreneurs
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

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search