The components of PowerTex India scheme are in-situ upgradation of plain powerlooms; group workshed scheme (GWS); yarn bank scheme; common facility centre (CFC); Pradhan Mantri Credit Scheme for powerloom weavers; Solar Energy Scheme for powerlooms; Facilitation, IT, awareness, market development and publicity for powerloom schemes; Tex Venture Capital Fund; and Grant-in-Aid and modernisation and Upgradation of powerloom service centres (PSCs).
The objective of the first component of in-situ upgradation is to provide financial assistance to economically weaker low-end powerloom units, for upgrading existing plain looms to semi-automatic/shuttleless looms by way of fixing certain additional attachment/kits. The objective is also to improve quality and productivity of the fabrics being produced and enable them to face the competition in domestic and international markets. All powerloom units having up to 8 looms would be eligible under this component.
The yarn bank scheme is aimed at providing interest free corpus fund to special purpose vehicle (SPV)/consortium to enable them to purchase yarn at wholesale rate and give the yarn at reasonable price to the small weavers. The objective is also to avoid middle man/local supplier’s brokerage charge on sales of yarn.
Under the Pradhan Mantri Credit Scheme for powerloom weavers, financial assistance would be provided against the credit facility (term loan) availed under Pradhan Mantri Mudra Yojana (PMMY) to the decentralized powerloom units/weavers.
The Solar Energy Scheme is for providing financial assistance/capital subsidy for installation of ‘on grid solar photo voltaic plant’ (without battery backup) and ‘off grid solar photo voltaic plant’ (with battery backup) by small powerloom units to attain sustainable development goal of government and to give thrust to renewable energy.
Commenting on the launch of the new scheme, Southern India Mills’ Association (SIMA) chairman M Senthilkumar said the Scheme would greatly benefit the powerloom sector to improve its competitiveness in the global market and also enable the sector to supply quality fabrics at a competitive rate to the garmenting and made-up sector.
He appreciated the solar power plant scheme for powerlooms which provides 50 to 90 per cent subsidy with the lower cap for the powerlooms connected to the grid and higher benefit for the powerlooms that go off the grid. “This would give a great relief to the state governments especially Maharashtra and Tamil Nadu that account over 75 per cent of the powerlooms in the country to reduce their power subsidy commitment and also enable the powerloom sector to be self-reliant.” (RKS)
Fibre2Fashion News Desk – India
Apparel/Garments | On 22nd May 2018
Bangladesh Bank has enhanced the loan limit under Export Development...
Textiles | On 22nd May 2018
In what might be an indication of higher exports in the coming...
Overall, Union budget 2018-19 is very balanced
Indian fashion industry
Organic the first choice of any environment-conscious person
Ozone PB Spintex Limited
‘We have made huge investments to ensure quality yarn production.’
Describing itself as the best body shape and garment fit company in the...
Conceived in Europe and curated in New Delhi, NeceSera is a...
For.Tex is an Italy-based leading producer of dyes and thickeners, and is...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
The Indian market has huge potential in technical textiles, and by far,...
Bani Batra’s couture wedding collection is inspired by traditional Indian...
Whistling Woods International School of Fashion
<div>A lack of upgraded courses in costume designing and fashion as per...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...