The Tiruppur Exporters’ Association (TEA) and The Southern India Mills’ Association (SIMA) have welcomed the ‘pragmatic’ budget presented by Tamil Nadu today. The two associations have hailed the state’s decision to improve infrastructure to promote technical textiles in the state and the announcement of creating a separate department for textiles.
The State government wil expedite works for Integrated Textile Parks in Tiruppur, Kancheepuram, and Erode.
Due to shortage of sea containers, exporters opt for the costlier mode to move consignments.
The Tirupur Exporters' Association (TEA) on Thursday requested the Union Minister for Ports and Shipping Sarbananda Sonowal to address the shortage of containers for shipping.
The draft pledged as much as 11% incentive to large companies for investments over Rs 500 crore in greenfield projects in technical textiles.
There is a concerted move by China to subvert Indian economy through underhand dealings, according to international shipping magnates and experts.