Budget 2021: Textile industry welcomes announcement on parks
With the concept of the parks with a plug-and-play model, the textile and apparel sector, particularly the SMEs (small and medium enterprises), can build competitiveness in manufacturing, ITF convenor Prabhu Dhamodharan said in the statement
PTI | February 1, 2021 | Updated 20:24 IST
The textile industry on Monday welcomed the Union Budget presented by Finance Minister Nirmala Seetharaman, particularly the announcement on textile and apparel parks. In a statement here, the Indian Texpreneurs Federation (ITF) appreciated the thrust given to the textile sector by proposing the seven mega integrated textile region and apparel parks (MITRA).
With the concept of the parks with a plug-and-play model, the textile and apparel sector, particularly the SMEs (small and medium enterprises), can build competitiveness in manufacturing, ITF convenor Prabhu Dhamodharan said in the statement. Further, the parks can be aligned with env
Sops for textiles to weave a global success story
February 02, 2021
Mega Investment Textiles Parks scheme will enable competitiveness
The textiles and apparel sector has the potential to be a global champion. While the government has come out with sporadic policy measures to promote the sector, Budget 2021-22 has outlined some major direct and indirect sops that are expected to create an enabling ecosystem that could help the sector scale-up significantly.
Union Finance Minister Nirmala Sitharaman said a Mega Investment Textiles Parks (MITRA) scheme will be launched to create world class infrastructure with plug-and-play facilities. Seven Mega Textile Parks will be established in three years. This is in addition to the PLI scheme announced 2-3 months ago.
Updated Feb 01, 2021 | 19:41 IST
Welcoming the budget, president of Tirupur Exporters Association Raja M Shanmugham termed it as a pragmatic one presented to address all issues in the sectors Textile industry welcomes announcement on parks in Budget
Coimbatore: The textile industry on Monday welcomed the Union Budget presented by Finance Minister Nirmala Seetharaman, particularly the announcement on textile and apparel parks.
In a statement here, the Indian Texpreneurs Federation (ITF) appreciated the thrust given to the textile sector by proposing the seven mega integrated textile region and apparel parks (MITRA).
With the concept of the parks with a plug-and-play model, the textile and apparel sector, particularly the SMEs (small and medium enterprises), can build competitiveness in manufacturing, ITF convenor Prabhu Dhamodharan said in the statement.
Industries in Coimbatore resume investments for expansion, new projects
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‘This is the right time to innovate and create businesses’
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‘This is the right time to innovate and create businesses’ For industries in Coimbatore, post-lockdown months have seen a spurt in demand across sectors. This is leading to capital investments.
Several industries have started investing to expand or modernise existing capacities. Some industries are also investing to tap opportunities in new fields.
According to the Southern India Mills Association, the current demand trend is likely to continue till March for textile mills.
Many spinning units that had pending expansion or modernisation projects have started investing in these works now.