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Textile Industry in coimbatore needs govt aid for growth:

Textile Industry in coimbatore needs govt aid for growth:

The Indian Texpreneurs Federation (ITF) on Saturday said the state government’s support was a must for the spinning mills and textile industry to do well in future.

ITF had on Friday submitted a representation to the finance minister, Thangam Thennarasu, seeking to bring in advanced technology to the textile and apparel industry in the state and appoint an external expert financial research agency.

ITF convener Prabhu Dhamodharan said the purpose of the external expert financial research agency was to study the stress level in the industry and its allied sectors.
“The agency could create data and submit it to the finance ministry. The report should cover the present and immediate future demands in the domestic and export markets. The state industries department could prepare and present such a report,” he said.

Pointing out that many cotton-growing states had started spinning mills with the state-of-the-art technology, he said, “Such innovations will bring down the manufacturing cost, while helping grab export business with a cost competitiveness. The state government should conceptualise a new scheme with incentives to uplift the technology levels of the state spinning mill sector to face the emerging competition.

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The scheme should ensure that the technology is relevant for the next 15 years and it should not compromise on the sector’s competitiveness.”

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