Union Textile Ministry recently announced Solar Energy Scheme for small power loom units, on Grid Solar Photo Voltaic Plant (without battery backup) and Off Grid Solar Photo Voltaic Plant (with battery backup).
The government will provide INR 2.50 lakh subsidy per unit. This will help the unit to pay back bank loans within 3-4 years, after which the unit shall get practically free electricity, stated Textile Commissioner Dr. Kavita Gupta.
She was speaking while inaugurating Buyer-Seller Meet (B2B) and Textile Exhibition organized by The Regional Office of the Textile Commissioner, Navi Mumbai on 26th November 2017. The Fair shall remain open till 28th November 2017 at Kohinoor MangalKaryalaya, Opposite Swami Narayan Temple, Dadar( E), Mumbai.
Dr. Kavita Gupta further stated that Union Textile Ministry and State Government have announced several promotional schemes for power loom textile industry but there is hardly any awareness of the schemes in the industry. Entrepreneurs from Gujarat and Tamil Nadu have availed maximum benefit from these schemes.
There are 25 lakh power looms in the country out of which 50% are in Maharashtra. There are 108 power loom clusters in the country. There are 72 Textile parks.
Rahul Mehta, President, The Clothing Manufacturers Association of India (CMAI), was the guest of honor at the exhibition.
He said, “Apparel export for the year 2016-17 was 16.8 billion dollars and the target for 2017-18 was 20 billion dollars. However, the export target for 2017-18 will not be attainable and is likely to remain at the last year’s level. Recently, the government has raised the incentive rate from 2% to 4% for garments and made-ups under Merchandised Exports from India Scheme. (MEIS). In addition government has also increased RoSL rates from 0.9% to 1.6%. However, duty drawback rates have ended on 30th September 2017 and new rates have not been announced. Supposing if duty drawback rates announced are around 2 to 3%, the total incentive will be around 8%, which was 11.50 to 12% earlier.”
Source : Textile Excellence
