Buyer Seller Meet and Exhibition of Powerloom Products and Textiles Inaugurated by Textile Commissioner on 26 Nov

ANI | Updated: Nov 28, 2017 12:33 IST

New Delhi [India], Nov 28 (ANI-BusinessWireIndia): Union Textile Ministry has 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), where the Government will provide Rs. 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, IAS.

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 Mangal Karyalaya, Opp. Swami Narayan Temple, Dadar (E), Mumbai.

Dr. Kavita Gupta further stated that Union Textile Ministry and State Government has announced several promotional schemes for power loom textile industry but there is hardly any awareness to the schemes in the industry. The maximum benefit of these schemes has been taken by the entrepreneurs of Gujarat and Tamil Nadu.

There are 25 lakh power looms in the country out of which 50 percent 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), who was the Guest of Honour, stated that 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 likely to remain at the last year's level. Recently, the government has raised the incentive rate from two percent to four percent for garments and made ups under Merchandise Exports From India Scheme (MEIS).

In addition, the Government has also increased ROSL rates from 0.9 percent to 1.6 percent. 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 two to three percent, the total incentive will be around eight percent, which was 11.50 to 12 percent earlier.

Purushottam Vanga, Chairman -Powerloom Development and Export Promotion Council (PDEXCIL) informed that CMAI & PDEXCIL have recently entered into MOU for mutual benefits. Under this MOU, they will jointly organize Buyer Seller Meet in Mumbai in January 2018.

Dhiraj Kothari, President -Mumbai Textiles Merchants Mahajan has stated that the government should create a web portal and include the data of Buyer Seller Meet.

Vinod Chothani -Convener of Buyer Seller Meet stated that textile businessmen should offer standard quality, timely delivery and reasonable rates to increase their business.

Naresh Kumar, Director -The Regional Office of The Textile Commissioner, Navi Mumbai gave the welcome address in the beginning of the event and Mr. Sivakumar S., Deputy Director proposed Vote of Thanks. (ANI-BusinessWireIndia)