Industry And Cluster | News & Insights

Spinning body urges support from State and Union Governments.

Published: January 5, 2021
Author: Manali bhanushali

The spinners have urged the State and Union Governments to support them with capital and interest subsidies for new mills coming up with Rs. 10 crore investment and having annual turnover of Rs. 50 crore.

During the AGM, The South India Spinners Association, Coimbatore also requested subsidy for solar energy plants set up by mills with maximum annual turnover of Rs. 50 crore.

The association also asked to extend loans for such projects without collateral. The MSME mills should get loans at 7 per cent interest.

It is requested that the State Government should operate free trains to bring migrant workers back to the workplaces from their home states.

“The small mills should be able to purchase less than 1 MW power from the Indian Energy Exchange. There should be uniform GST rate for MMF textile value chain as it was for the cotton sector,” the association said.

The trade body welcomed the announcement that the Cotton Corporation of India (CCI) would set up warehouses in Tamil Nadu for sale of cotton. The project should be expedited and the cotton ordered by textile mills here should be supplied in next 1 to 2 months.

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