Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Union govt sanctions Rs 200cr for Tiruppur dyeing industry
Union govt sanctions Rs 200cr for Tiruppur dyeing industry
29
Dec '16
The Indian government has sanctioned Rs 200 crore to the Tiruppur dyeing industry, which is on the verge of closure due to severe financial crisis on account of huge investments in the first ever Zero Liquid Discharge (ZLD) projects in the country. This will help ailing Common Effluent plants (CETPs) and 450 dyeing units to recover from the financial crisis.

“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


Must ReadView All

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

L-R: Jonathan Akeroyd, Donatella Versace, John D Idol. Courtesy: Rahi Rezvani

Fashion | On 25th Sep 2018

Michael Kors to acquire Versace; to be renamed Capri

Michael Kors Holdings Limited, a global fashion luxury group, has...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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