Home / Knowledge / News / Textiles / Ministry suggests extension of subsidy for powerlooms
Ministry suggests extension of subsidy for powerlooms
10
Feb '15
The ministry of textiles has suggested that the subsidy scheme be extended to powerlooms in order to improve the quality of powerloom products, a news agency reported.
 
Speaking at a programme organised to distribute subsidy under the in situ upgradation of plain powerlooms in Coimbatore, Textile Commissioner Kiran Soni Gupta also suggested removal of restrictions on the number of units that are eligible for receiving benefits under the scheme.
 
Gupta said the ministry is in favour of giving benefits across the board and also for removing restrictions to improve the quality of powerloom products.
 
Currently, only a maximum of eight powerlooms can avail a subsidy of Rs 15,000 each under the scheme. Further, the scheme is available only in select weaving clusters like Erode and Salem, Gupta said.
 
Informing that only 1.25 lakh of the over 20 lakh looms were fully mechanised, she said the Indian textile industry can make a difference on the global stage only if weaving was able to contribute significantly to its growth.
 
According to her, there are lot of opportunities for entrepreneurs as 95 per cent of the textile machinery is currently imported. She said domestic players can strive to meet the demand for looms.
 
Gupta informed that the ministry of textiles has received 10 proposals from Coimbatore for setting up yarn banks, and two of them have been approved.
 
Since the allocated money for Technology Upgradation Fund Scheme (TUFS) has already been utilised, the ministry has sought additional funds for the scheme, Gupta said. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

New Investment for traditional Myanmar textiles, weavers

Textiles | On 21st Oct 2018

New Investment for traditional Myanmar textiles, weavers

Myanmar Artisans Co Ltd, Turquoise Mountain and the DaNa Facility,...

Pak knitwear exporters plan environmental compliance

Textiles | On 21st Oct 2018

Pak knitwear exporters plan environmental compliance

Pakistani manufacturers and exporters of knitwear garments have...

Courtesy: Hyosung

Textiles | On 21st Oct 2018

Hyosung converting spandex plants into smart factories

Hyosung TNC, the textile and trading unit arm of Hyosung, is...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Paolo Crespi,

Paolo Crespi

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

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


October 2018

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

news category


Related Categories:

Advanced Search