Industry

Attractive textile policy soon: Karunanidhi

(From left), Manikam Ramaswami, Vice Chairman, Cotton Textiles Export Promotion Council and V.S. Velayutham, chairman, with Tamil Nadu Chief Minister M. Karunanidhi, at the Annual Export Awards function in Chennai on Saturday. Photo: S.S.Kumar

(From left), Manikam Ramaswami, Vice Chairman, Cotton Textiles Export Promotion Council and V.S. Velayutham, chairman, with Tamil Nadu Chief Minister M. Karunanidhi, at the Annual Export Awards function in Chennai on Saturday. Photo: S.S.Kumar   | Photo Credit: S.S.Kumar

The State government will soon announce an attractive textile policy, which will further promote investment and employment in the sector, according to Chief Minister M. Karunanidhi.

Giving away export awards for 2008-2009 at a function organised by the Cotton Textiles Export Promotion Council (TEXPROCIL) here on Saturday, he called upon investors from other States and other countries to invest in the State textile industrial units and assured them of all necessary assistance from the government.

Noting that the textile sector in the State provided employment to 4 million people, the Chief Minister said his government would do its utmost to protect the industry. The approval for setting up five integrated textile parks at Kumarapalayam, Cuddalore, Vadipatti (Madurai district), Andipatti (Theni district) and Karur had boosted textile investment in the State.

Giving an exhaustive account of various initiatives and policy interventions of the government, he said that in the matter of preventing environmental degradation and enabling textile units to comply with judicial directives, he announced in the Assembly a marine discharge project. The sale of cotton in the State by the Cotton Corporation of India had been exempted from the Value Added Tax (VAT). The sales tax on hank yarn was abolished, helping six lakh handloom weavers.

He commended Union Minister for Textiles Dayanidhi Maran for a host of measures, including the prompt release of Rs.2,546 crore towards arrears under the Technology Upgradation Fund that was pending for almost two years, and the move to upgrade the Sardar Vallabhai Patel Institute of Textile Management in Coimbatore into an international textile business school.

Mr. Karunanidhi used the occasion to welcome captains of the textile industry [who were present at the function] for the World Classical Tamil Conference to be held in Coimbatore in June.

Mr. Maran said if other State governments offered exemption for resale of cotton from levy of VAT as done by Tamil Nadu, his Ministry would come forward to set up cotton depots.

K.K.S.S.R. Ramachandran, State Minister for Handlooms and Textiles, pointed out that the Council’s award presentation function took place for the first time outside Mumbai, that too in Chennai.

V.S. Velayutham, chairman of the Council, requested the Chief Minister to ensure uninterrupted power supply to the sector in the coming weeks for meeting its export commitments.

Manikam Ramaswamy, vice-chairman of the Council, said the organisation was taking steps to develop new markets that were less hit by the global recession.

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Printable version | Mar 30, 2020 4:17:56 PM | https://www.thehindu.com/business/Industry/Attractive-textile-policy-soon-Karunanidhi/article16814464.ece

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