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NT Bureau | Sun, 14 Feb, 2010,02:02 PM |
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Chief Minister M Karunanidhi said Tamilnadu government would soon unveil an attractive textile policy which would further promote investment and employment in the sector.
Giving away export awards for 2008-09 at a function organised by the Cotton Textiles Export Promotion Council (TEXPROCIL) here on Saturday, Karunanidhi called upon investors from other States and countries to invest in the textile industrial units in Tamilnadu. |
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He said the approval given by the State government for setting up five integrated textile parks in Kumarapalayam, Cuddalore, Vadipatti in Madurai district, Andipatti in Theni district and Karur has boosted textile investment in State.
‘The textile sector provided employment to four million people and the government would do its utmost to protect the industry and its global competitiveness,’ he assured.
He said Tamilnadu accounted for 47 per cent of the nation’s spinning capacity, 20 per cent of powerloom weaving, 17 per cent of handloom weaving and 75 per cent of the production capacity in knitted garments.
Recalling his government’s initiatives in promoting textile sector including the discontinuation of special incentives for cotton exports by persuading the Centre, Karu-nanidhi said the sale of cotton in the State by the Cotton Corporation of India has been exempted from Value Added Tax.
‘The sales tax on hank yarn was abolished helping six lakh handloom weavers,’ he said.
He assured the investors of all the required and necessary assistances from the State government. Karunanidhi showered praise on Union Textiles Minister Dayanidhi Maran, saying he had turned around the country’s ailing sector within seven months.
Speaking on the occasion, Maran said if other State governments offered exemption to resale of cotton from the levy of VAT as done by Tamilnadu, his Ministry would come forward to set up cotton depots.
Tamilnadu Handlooms and Textiles Minister KKSSR Ramachandran and TEXPROCIL chairman V S Velayutham also spoke on the occasion. |
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