The Indian state of Tamil Nadu has launched a number of initiatives to help the textile industry. Under the PM MITRA mega textile park programme, State Industries Promotion Corporation of Tamil Nadu (SIPCOT) would establish new industrial parks in Virudhunagar, Kallakurichi, and Coimbatore.
According to the M K Stalin administration, a new textile policy will be unveiled with an emphasis on the holistic growth of the entire value chain, cutting-edge design development, and the production of textile machines.
A total of 20 crore would be spent on 10 micro handloom parks in the state to improve the quality of handloom items by utilising cutting-edge technology and building connections with the market.
Tamil Nadu has declared its intention to increase installed electricity generation by double. by 2030 and raise the proportion of green energy to 50% in the state. There are now 1,000 units of free electricity available for the power loom sectors, up from the previous 750 units.
The government will also expand the infrastructure for skill development centres, which have been suggested as being located in factories. Businesses will receive incentives to train young people on the job in industries. The Budget for 2023–2024 includes $25 crore as funding for this “Industrial Skill Schools” initiative.
With a projected cost of 80 crore, a cutting-edge skill development centre will be built in Krishnagiri district’s SIPCOT Industrial Park, which is quickly growing to become the third-largest industrial cluster in the entire state. Moreover, a Start-up Mission will be created to address the challenges women business owners have in marketing their products and obtaining sufficient, timely credit.
Ravi Sam, chairman of The Southern India Mills’ Association (SIMA), praised the announcements and thanked the government for improving the free power supply to the power loom industry. According to him, this declaration would increase the competitiveness of the power loom industry in Tamil Nadu, benefiting 1.64 lakh power loom weavers who produce about 25% of the nation’s woven fabrics and are heavily involved in exports.
Sam has also hailed the introduction of new industrial parks in the Virudhunagar, Vellore, Kallakurichi, and Coimbatore regions, which are expected to cost 410 crore in total and provide jobs for close to 22,000 people.
The most recent declaration by the Through the PM MITRA mega textile park scheme and the infrastructure support provided by the Tamil Nadu government through this budget, the Indian government’s allocation of a Park to Tamil Nadu (at a cost of $1,800 crore in the Virudhunagar district and for this purpose 1,052 acres of land would be acquired and completed by SIPCOT) would increase the scale of operation and value-adding, according to Sam.