Tamil Nadu Government headed by Hon’ble Chief Minister, Thiru M.K.Stalin has announced the budget for the year 2021-22 aiming at making Tamilnadu as the most progressive State not only in the country, but also as one of the well-developed States in the global map. Though the State had to face unforeseen challenges due to the impact of first and second waves of COVID-19 pandemic and likely threat of third wave, the Hon’ble Chief Minister for the first time in the history made all the Ministers to have several rounds of interactions with all the stakeholders and has taken lot of pains to prepare the budget proposals, which is evident from the announcements made today by the Hon’ble Minister for Finance, Dr. P. T. R. Palanivel Thiagarajan. Tamilnadu textile industry that accounts 1/3rd of the textile business size of the country has been given a major thrust in the budget announcements for its growth and enhancing the global competitiveness.
In a Press Release issued here today, Mr.Ashwin Chandran, Chairman, The Southern India Mills’ Association (SIMA) has thanked the Hon’ble Chief Minister, Thiru M.K.Stalin for considering several recommendations made by the Association and the textile industry and making several announcements. Mr.Ashwin has welcomed the announcement of creating a separate department for textiles considering the huge business size and also its growth in the coming decade.
SIMA Chairman has hailed the announcement of establishing textile parks and SIPCOT facilities that would attract huge investments across the value chain of the industry. He thanked the Government for announcing Amnesty Scheme for settling the disputes of older cases of Value Added Tax. He has said that this would create a win-win strategy both for the Government and the industry. Mr.Ashwin has appreciated the announcement of establishing new Common Effluent Treatment Plants (CETPs) for the benefit of existing processing segments in Erode and Namakkal districts. Creating new infrastructure for the development of technical textiles in Tamilnadu is yet another announcement made for the textile industry says, Mr.Ashwin. He has also welcomed the various infrastructure and other announcements made for the growth of the industry in Tamilnadu