28 November 2022, Mumbai
A textile city is coming up in Chennai. Spread over 100 acres, it will house leading international brands from the textile industry.
Tamil Nadu tops third in the country in attracting foreign investments and exports in the textile sector and contributes 12 per cent of the total textile exports from India. Hubs will be established in Karur, Tirupur and Kancheepuram to promote textile exports. A textile park coming up in Virudhunagar district will be spread over 1,500 acres. Tamil Nadu wants to be a leader in technical textiles.
The state has withdrawn the market committee cess on cotton and has created a separate commissionerate for textiles. Incentives will be given for those who invest in the state in technical textiles. Annual cotton production in the state has increased to nine lakh bales and a scheme has been announced to increase the area under cotton. Several policy initiatives are being undertaken to address the needs of the textile industry. Tamil Nadu is attracting investment worth Rs 8024 crores, including a Rs 595 crore subsidy, under the Amended Technology Upgradation Fund Scheme. Further, the Centre has extended Rs 6 crores to Karur under the textile venture scheme. Under the Production Linked Scheme (PLI), six units are coming up in the state.
