Home / Knowledge / News / Textiles / TEA welcomes Tamil Nadu's tax free budget
TEA welcomes Tamil Nadu's tax free budget
Mar '17
Tiruppur Exporters' Association (TEA) has welcomed the tax free Tamil Nadu Budget 2017-18, which has been presented in Tamil Nadu Assembly by D Jayakumar, the state's minister of finance. The association said that the people will benefit from the schemes announced in the budget that includes the allocation of Rs 2,000 crore for infrastructure development.

Raja M Shanmugham, president of TEA, said that the Tamil Nadu Infrastructure Development Fund (TNIDF) would be helpful for the development of the infrastructure, which is the need of hour for the industry.

He also welcomed the allocation of Rs 150 crore for the Tamil Nadu Skill development Mission to train one lakh youth and also intends to seek assistance from the Government of India to help the industry recruit skilled workforce and pave way for increasing the productivity and efficiency.

Shanmugham also hailed the proposal to strengthen single window system in the Tamil Nadu Industries Guidance and Export Promotion Bureau further by making it online so that investors can get all approvals expeditiously in a hassle free manner at one place.

While noting down the allocation of Rs 532 crore for MSME sector in the budget, he specifically lauded the doubling of allocation of capital subsidy to MSME units from Rs 80 crore to Rs 160 crore, which will be helpful for MSME units in Tiruppur, as more than 80 per cent of total units in Tiruppur are under MSME categories. He also appreciated launching of a Special Export Promotion and Marketing support scheme at an outlay of Rs 10 crore to enhance the competitiveness of MSME units in domestic and international markets. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Smita Murarka

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Nitesh Mittal

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

Karan Behal

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

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

Yash P. Kotak
Bombay Hemp Company

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

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

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


Leave your Comments

July 2018

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

news category

Related Categories:

Advanced Search