Tamil Nadu's textile industry, which accounts for one-third of India's textile business size, has been playing a crucial role in the country's economy as the second-largest employment provider after agriculture.
The Southern India Mills' Association (SIMA) Chairman, Ravi Sam, has praised the government's recent initiatives to enhance the competitiveness of the powerloom sector in Tamil Nadu, which will benefit 1.64 lakh powerloom weavers and increase the scale of operations and value addition.
The State Budget 2023-24 has announced the establishment of new SIPCOT industrial parks in Virudhunagar, Vellore, Kallakurichi, and Coimbatore, along with the allocation of a PM MITRA mega textile park scheme by the Union Government to Tamil Nadu. The infrastructure support provided by the government of Tamil Nadu through this budget is expected to provide infrastructure facilities for textile processing, the weakest link in the textile value chain. Furthermore, the announcement of 10 mini handloom parks and new industrial parks in the clusters of Virudhunagar, Vellore, Kallakurichi, and Coimbatore will provide employment opportunities to nearly 22,000 persons.
Ravi Sam appreciated the government's announcement of releasing a new Textile Policy with a focus on holistic development of the entire value chain, latest design development, and textile machinery manufacturing. The SIMA Chairman hoped that the budget announcements would work as a growth engine for the economy of the State.