Eye on foreign markets: Co-optex plans franchise stores, multi-brand outlets for retail push

CHENNAI: Co-optex will expand its retail presence across India and overseas through franchise-model showrooms and multi-brand outlets, Handlooms, Textiles and Khadi minister M Vijay Balaji told the Assembly on Tuesday, as the government announced a series of measures to widen the markets for handloom and textile products.

Replying during a debate on the demands for grants for his department, Balaji said the expansion of Co-optex's sales network would help take Tamil Nadu's handloom products to a wider customer base. The franchise showrooms and multi-brand outlets would be established in India and abroad. The minister announced the setting up of a silk export trade facilitation centre (SETFC) in Kancheepuram to strengthen support for exporters and manufacturers.

The government would also promote the use of renewable energy in the handloom sector by installing solar panels for weavers. A Natural Dye House would be established to promote eco-friendly production. A design studio would come up in Thanjavur to develop new designs and improve the marketability of handloom products. A special handloom expo would be organised to showcase products made by local weavers.

To improve textile market access, the department would organise a reverse buyer-seller meet, bringing buyers and producers together to create new business opportunities. Balaji also announced a Centre of Excellence for HomeTech Textiles to promote research, product development and innovation in the home-textile sector.

The government would further establish a Tamil Nadu Knitwear Board to support the State’s knitwear value chain and facilitate the growth of micro, small and medium enterprises.

MSME package

Under a Rs 32.95-crore micro and small cluster development programme,

Athangudi's handmade tile industry will receive a Rs 3 crore common facility centre, while Dindigul's traditional lock cluster will get Rs 10 crore. covering four traditional-product clusters, MSME minister P Madhan Raja announced on Tuesday.

The announcements to strengthen micro, small and medium enterprises (MSMEs), span traditional industries, finance, infrastructure, entrepreneurship, technology and market access.

The government will implement the ‘Vetri Kaivinai Kalaignargal Thittam’, under which projects up to Rs 10 lakh will be granted 50% financial assistance. The ‘MMM Scheme’ will provide Rs 100 crore in margin-money support through the Tamil Nadu Industrial Cooperative Bank.

New industrial parks for women entrepreneurs will be established in eight districts, covering 108.28 acres at an estimated Rs 237.56 crore.

For startups, the ‘Tamil Nadu Start Smart Seed Fund’ will provide up to Rs 25 lakh to eligible startups. The government will also create a Rs 100 crore investment fund for startups.

A new MSME policy will address technology adoption, Industry 4.0, intellectual property, quality, design and market access. The government will also support new entrepreneurs through the Entrepreneurship Development and Innovation Institute-Tamil Nadu, with 1,000 new entrepreneurs to be assisted through various programmes.

A medical and drug park will be established at Shoolagiri in Krishnagiri district on 60.36 acres at a cost of Rs 48.08 crore. The park is expected to generate about 2,800 jobs.

The package also includes measures for technology support, skill development, market access and strengthening MSME clusters across the State.