“The Government of India has taken cognizance of this problem of the dyeing industry in Tiruppur and on recommendation of the ministry of textiles, the ministry of finance has sanctioned Rs 200 crore to the state government of Tamil Nadu for the 18 CETPs as an interest free loan to be converted into grant based on the performance of the CETPs,” an official statement said.
The move will help ailing CETPs and 450 dyeing units to achieve 100 per cent capacity utilisation.
More than 450 dyeing units in Tiruppur had collectively set up 18 ZLD enabled CETPs with a total cost of Rs 1,013 crore. The project has become a global standard and appreciated by environmentalists and processing industry world over. However, being the first project of its kind the project had several technical challenges and cost overrun which put them into financial crisis due to outstanding bank loans and incomplete projects.
Welcoming the decision, Dyers Association of Tirupur president S Nagarajan said that the amount will help in mitigating the stressed assets and also in enhancing the capacities at the 18 CETPS in Tiruppur knitwear cluster.
Tiruppur is a hub of the textile processing and knitting industry providing employment to over 5 lakh persons and contributes 22 per cent of the total garment export of the country. Closure of processing industry could have hit the entire garmenting sector in the region. (RKS)
Fibre2Fashion News Desk – India
E-commerce | On 25th May 2022
Over 50 per cent brands experienced online revenue growth of between...
Apparel/Garments | On 24th May 2022
As the German economy is at the risk of shrinking by 2 per cent this...
Textiles | On 24th May 2022
China will adopt a slew of strong and targeted measures to stabilise...
Textile Industry Head Honchos
Increase foreign exchange and create jobs
Textile Industry Head honchos
Donating 20,000 N95 masks to hospitals & NGOs
Multi-functional garments will be next big thing
Susan Bhaktul
Established in 2000 as a liaison with the Government of India, Industree...
Vikash & Vishal Pacheriwal
Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...
Anupam Bansal
Liberty Shoes has been fashioning footwear for well over 65 years now, for ...
Frank Heislitz Freudenberg
Freudenberg Performance Materials is a leading global manufacturer of...
Karan Bose Hula Global
Hula Global, a leading isolation gown manufacturer in India, has been...
Kevin Young & Tom Lucas Web Industries
Web Industries is a precision formatter of nonwoven materials used in baby ...
Abhishek Agarwal Purple Style Labs
Late Indian fashion designer Wendell Rodricks, is known for his...
Megha Kumari & Jigar Mali Label Megha & Jigar
New Delhi based label Megha & Jigar blends India's unique handcrafts...
Kamal Khushlani Mufti
Based out of Mumbai, Mufti is a men’s clothing fashion brand. In an...
Press Release
Letter to Editor
RSS Feed
Search Companies
editorial@fibre2fashion.com
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
By submitting you confirm you have read our Terms & Conditions and Privacy Policy.