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Ministry suggests extension of subsidy for powerlooms
10
Feb '15
The ministry of textiles has suggested that the subsidy scheme be extended to powerlooms in order to improve the quality of powerloom products, a news agency reported.
 
Speaking at a programme organised to distribute subsidy under the in situ upgradation of plain powerlooms in Coimbatore, Textile Commissioner Kiran Soni Gupta also suggested removal of restrictions on the number of units that are eligible for receiving benefits under the scheme.
 
Gupta said the ministry is in favour of giving benefits across the board and also for removing restrictions to improve the quality of powerloom products.
 
Currently, only a maximum of eight powerlooms can avail a subsidy of Rs 15,000 each under the scheme. Further, the scheme is available only in select weaving clusters like Erode and Salem, Gupta said.
 
Informing that only 1.25 lakh of the over 20 lakh looms were fully mechanised, she said the Indian textile industry can make a difference on the global stage only if weaving was able to contribute significantly to its growth.
 
According to her, there are lot of opportunities for entrepreneurs as 95 per cent of the textile machinery is currently imported. She said domestic players can strive to meet the demand for looms.
 
Gupta informed that the ministry of textiles has received 10 proposals from Coimbatore for setting up yarn banks, and two of them have been approved.
 
Since the allocated money for Technology Upgradation Fund Scheme (TUFS) has already been utilised, the ministry has sought additional funds for the scheme, Gupta said. (RKS)
 

Fibre2fashion News Desk - India


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