Home / Knowledge / News / Textiles / Govt supports investment in new textile machinery
Govt supports investment in new textile machinery
14
Apr '10
The federal government will fund 20 percent of the capital cost, with an investment in machinery and plants not exceeding Rs 10 million, for textile projects.

A Technology up-gradation Support Order, 2010, to support investment in textile machinery and plant, has been issued by the Ministry of Textiles. Under this order, the textile sector stakeholders can avail of loans till June 30, 2014, the time till which the order is valid.

As per the order issued by the textile ministry, fifty percent of mark-up subject to a maximum of five percentage points per annum, or whichever is less, will be borne by the federal government.

For this investment support programme, all existing and new textile units registered with the ministry will qualify. Loans given out prior to September 1, 2009, will not be eligible for mark-up support. Only technology and machinery recognised under the order, by the ministry's financial and technical committee, will receive investment support.

This facility will be governed by commercial banks and development financial institutions, which will also assess the feasibility of the projects and financial requirements. However, the credit risk under this plan, will not be the government's responsibility.

Industrial dyeing machines, garment dyeing and special effects machines, knitting machines, yarn dyeing, processing plants, open-end machines, shuttle less looms, ring machines, power generation equipment for textile and clothing units and ginning machines, are recognised under this scheme.

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Urmil Arya

Sushila International, a well established textile organisation established ...

Eric Scholler
Groz-Beckert

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Amiben Shroff
Shrujan

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

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