Tirupur exporters welcome new integrated textile policy

“Early release of the textile policy with incentives on par with other states will boost investment in Tamil Nadu. Most other states have come out with attractive textile policies and they were periodically inviting Tirupur entrepreneurs to invest with attractive subsidies,” said Raja M Shanmugham, president of TEA. 

He also welcomed the increased allocation for skill development from Rs 150 crore to Rs 200 crore to provide training to 2 lakh unemployed youth since it is the need of the hour for the industrial sector. 

Hailing the allocation of fund for removing deficiencies and allocation of more fund to ITIs, Raja Shanmugham also welcomed increase in loan amount from Rs 1 crore to Rs 5 crore to first generation entrepreneurs. 

“Enhancement of loan amount would encourage more entrepreneurs to enter the knitwear sector,” he said. 

Meanwhile, farmers welcomed the announcement in the budget on the implementation of long-pending and most-sought after Avinashi-Athikadavu scheme at Rs 1,789 crore to address the drinking water and irrigation needs in the Tirpur region.