COIMBATORE: In a significant boost to Tamil Nadu's textile sector, 55 textile firms signed MoUs committing Rs 912.97 crore in fresh investments, paving a way for the creation of 13,080 new jobs.
The MoUs were exchanged in the presence of Deputy Chief Minister Udhayanidhi Stalin at the International Textile Summit-360 held in Coimbatore on Thursday. Addressing the gathering, the Deputy Chief Minister stated that Tamil Nadu’s contribution to the country's textile sector is both immense and consistent.
"We account for 33 per cent of India’s textile business, 46 per cent of yarn production capacity and 70 per cent of cotton fabric printing capacity. More importantly, the textile sector provides livelihood to three million people, accounting for 25 per cent of India’s textile employment. Notably, 42 per cent of all women working in factories in the country are employed in Tamil Nadu,” Udhayanidhi said, adding that with various reforms and support extended by the Dravidian model government, the State is not a mere competitor in the global textile market, but is also setting new standards for others to follow.
Declaring the state government’s commitment to the textile industry, he said that necessary amendments were being made to the six per cent interest subvention scheme to enable extension of benefits to both pre-spinning and post-spinning machinery used in the spinning mills. “The amendment will also allow the industry to apply under the scheme up to three times,” he said.
Pointing out that major textile clusters such as Coimbatore, Tirupur, Erode, Karur, Salem, and Chennai have evolved into globally recognised hubs, Udhayanidhi Stalin said Madurai, Dindigul, and Virudhunagar are also emerging as key growth corridors for spinning, weaving, processing, garmenting, and value addition. These clusters set benchmarks in quality and innovation, he noted.
Stating that the launch of the new integrated textile policy 2026 clearly reflects the government's focus on competitiveness, ease of doing business, sustainability and investment promotion, the Deputy Chief Minister said the textile sector will remain a key pillar for achieving the milestone of a $one trillion economy.
“By moving up the value chain, adopting new technology and expanding global range, our industries will drive this growth very soon. From artificial intelligence-driven business models, smart automation, robotics and next-generation machinery, Tamil Nadu’s textile industry is transforming by embracing a future with confidence and global standards,” he said.
The two-day summit brought together investors, policy makers, innovators and technology providers to foster strategic collaborations, technology partnerships and investment opportunities across the textile and handloom eco-system.