Gujarat, TN powerlooms take maximum benefit of schemes

The Union textile ministry recently announced Solar Energy Scheme for small powerloom units, on Grid Solar Photo Voltaic Plant (without battery backup) and Off Grid Solar Photo Voltaic Plant (with battery backup),where government will provide Rs. 2.50 lakh subsidy per unit. "This will help the unit to pay back bank loans within 3-4 years, after which the unit shall get free electricity," said Gupta while speaking at the Buyer-Seller Meet (B2B) and Textile Exhibition held in Mumbai.

Meanwhile at the event, Clothing Manufacturers Association of India (CMAI) president Rahul Mehta pointed out that the apparel export target for 2017-18 will not be attainable and is likely to remain at the last year’s level. The export for 2016-17 was $16.8 billion and the target for 2017-18 was $20 billion. "Recently, the government has raised the incentive rate from 2- 4 per cent for garments and made ups under Merchandised Exports From India Scheme. (MEIS). In addition government has also increased ROSL rates from 0.9- 1.6 per cent. However, duty drawback rates have ended on September 30 2017 and new rates have not been announced. Supposing if duty drawback rates announced are around 2-3 per cent, the total incentive will be around 8 per cent, which was 11.50-12 per cent earlier," added Mehta. (RR)

Fibre2Fashion News Desk – India