Online edition of India's National Newspaper
Friday, Nov 16, 2007
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Online edition of India's National Newspaper Friday, Nov 16, 2007 ePaper |
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ERODE: The Erode Hi-Tech Weaving Park, which is in the nascent stages of development, stands to benefit from the Tamil Nadu Government’s Industrial Policy 2007, informed sources point out. The park is expected to provide direct employment to around 5,000 people. Cauvery Park in Komarapalayam will also benefit from the Policy, announced last week. The Industrial Policy has many elements that have the potential to give a fillip to the textile sector. The four major areas in which the policy has a resonance for the textile industry are: infrastructure grant for industrial parks, power tariff concessions, waste management and cluster development programmes. On infrastructure grants, the Policy says: “Back-ended Industrial Park Infrastructure Grant of Rs. 2 crore or 25 per cent of the investment in eligible fixed assets, whichever is less, would be granted for approved industrial parks, 50 km away from Chennai city limits.” It adds: “Such industrial parks must attract at least 20 new units with investments primarily in manufacturing with a total direct employment of at least 2,000.” On power tariff concessions, the policy says a back-ended State capital subsidy and electricity tax exemption on power purchased from the Tamil Nadu Electricity Board or generated and consumed from captive sources will be available to all manufacturing units, based on employment and investments in fixed assets. Here again the Erode park stands to gain in that it will be eligible for four years’ electricity tax exemption and a Rs. 1 crore capital subsidy. Powerloom Development and Export Promotion Council chairman M. S. Mathivanan says the power tariff concession will make manufacturing competitive in parks in the State. As for waste management, a bugbear for industries in this textile hub, the policy says “dedicated effluent treatment plants and other waste disposal facilities set up by individual manufacturing units would be eligible for an environment protection infrastructure subsidy of Rs. 30 lakh or 25 per cent of the capital cost of setting up such facilities, whichever is less.” The Policy says hazardous waste treatment, storage and disposal facilities will be set up in Perundurai, Karur, Tirupur and three other places. There is more in the Policy for the district, as it has several clusters. By means of a Cluster Development Action Plan the government promises to upgrade infrastructure involving local bodies, the TNEB, and a few other departments.
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