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Investment poor in Tamil Nadu's handlooms, handicrafts

06
Nov '18
Investment poor in Tamil Nadu
A mere 11.68 per cent of investments pledged in the handlooms and handicrafts sector during the first Global Investors Meet (GIM) in India’s Tamil Nadu state in 2015 has materialised till now, state government statistics show. As on September 19, the department concerned had managed to bring in investments worth ₹228.39 crore, creating over 1,500 jobs.

Procuring land for some projects was tedious and obtaining clearances from certain departments was a ‘nightmare’, a leading South Indian daily reported citing industry sources.

During the first edition of GIM, the Handlooms Department had signed 10 memoranda of understanding (MoUs), entailing investments worth ₹1,954.83 crore with a potential to provide job opportunities to over 65,000 people.

Out of the 10 MoUs signed, garment manufacturer Fashion Knits, which had pledged to invest ₹100 crore, is no more willing to pursue the project. No information is available with the department about an MoU signed by Estee Exports entailing investments worth ₹192 crore.

Two companies–Poppy’s Knitwear Private Limited and SRG Apparels Private Limited—had completed construction work. Poppy’s Knitwear had even started manufacturing operations.

Southern District Textile Processing Cluster (P) Ltd., which had agreed to invest ₹151 crore in Kariyapatti Taluk (Virudhunagar), had procured 102 acres of land, but construction work is yet to start. The firm is yet to get approvals from the directorate of town and country planning and the Tamil Nadu Pollution Control Board.

Construction work of SIMA Textile Processing Centre Ltd is yet to begin as the firm’s request for water supply is pending with the State Industries Promotion Corporation of Tamil Nadu (SIPCOT).

Perarignar Anna Handloom Silk Park has commenced construction work on the land it procured in Kilkathirpur village in Kancheepuram. Two other firms–Sri Mahasakthi Pvt. Ltd. and SIPCOT SIMA—are yet to obtain land for their projects. (DS)

Fibre2Fashion News Desk – India


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