Home / Knowledge / News / Textiles / Tamil Nadu to announce attractive textile policy
Tamil Nadu to announce attractive textile policy
15
Feb '10
An attractive textile policy will be announced soon by the government of the state of Tamil Nadu to promote investment and employment in the sector, said the Chief Minister Mr. M. Karunanidhi during an award function organized by the Cotton Textiles Export Promotion Council (TEXPROCIL).

Speaking at the function, while giving export awards for 2008-09, the CM appealed the investors from other states and other countries to make investments in the textile industrial units of Tamil Nadu, and assured them about offering the required assistance.

He said that around four million workers earn their living from state's textile industry and that the approval for instituting five integrated textile parks at various locations in the state, including, Kumarapalayam, Cuddalore, Vadipatti (Madurai district), Andipatti (Theni district) and Karur had supported the textile investment in the State.

While explaining the initiatives and policy interventions made by the government, he further informed that he had announced a marine discharge project in the Assembly to prevent environmental degradation and enable textile units to meet judicial directives. The Value Added Tax (VAT) had been removed from sales of cotton in the state by Cotton Corporation of India.

Moreover, hank yarn has been exempted from sales tax facilitating around 600,000 handloom weavers. Mr. Karunanidhi praised the Textile Minister Mr. Dayanidhi Maran for releasing the pending amount of Rs.25.4 billion, on time towards arrears under the Technology Up-gradation Fund, and for taking measures to convert the Sardar Vallabhai Patel Institute of Textile Management in Coimbatore into an international textile business school.

The Textile Ministry will set up cotton depots across the nation, if like Tamil Nadu other state governments, too exempt resale of cotton from VAT, stated Mr. Maran. TEXPROCIL Chairman, Mr. V.S. Velayutham urged the CM to facilitate smoother power supply to the sector to fulfill export orders.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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