The Pollachi MP felt that keeping in view the industrial development of Coimbatore and Tirupur districts, steps should be taken to revise the ceiling in the scheme in collaboration with the Union Minister for Textiles.
Coimbatore: The textile industry stands only next to the agriculture sector in terms of providing employment to people.
More than 110 crore people across the country have been employed by the textile industry. Keeping in view the growth of the textile industry, the Government of India will soon implement the Production Oriented Investment Scheme (PLI 2.0).
Pollachi Lok Sabha member Shanmugasundaram met the MSME Secretary, B B Swain to request him to urge the Government for the upper limit for availing benefits under the scheme to be reduced.
In his petition, the Pollachi Lok Sabha member Shanmugasundaram stated, "Under the production-oriented investment subsidy scheme to be implemented soon for the development of the textile industry, it is designed to benefit companies with investments ranging from Rs.10 crores to Rs.100 crores.
In Coimbatore and Tirupur districts, 90 per cent of MSMEs do not have the financial means to invest Rs.10 crores. They are in a position to invest only a minimum of Rs.1 crore to a maximum of Rs.10 crores. Therefore, the Central Government should revise and implement the ceiling for availing the benefits of this scheme to Rs.1 crore and above.
From April 2022 onwards, the scheme should be calculated and the benefits under this scheme should be made available. Keeping in view the industrial development of Coimbatore and Tirupur districts, steps should be taken to revise the ceiling in the scheme in collaboration with the Union Minister for Textiles," he requested.
More than 110 crore people across the country have been employed by the textile industry. Keeping in view the growth of the textile industry, the Government of India will soon implement the Production Oriented Investment Scheme (PLI 2.0).
Pollachi Lok Sabha member Shanmugasundaram met the MSME Secretary, B B Swain to request him to urge the Government for the upper limit for availing benefits under the scheme to be reduced.
In his petition, the Pollachi Lok Sabha member Shanmugasundaram stated, "Under the production-oriented investment subsidy scheme to be implemented soon for the development of the textile industry, it is designed to benefit companies with investments ranging from Rs.10 crores to Rs.100 crores.
In Coimbatore and Tirupur districts, 90 per cent of MSMEs do not have the financial means to invest Rs.10 crores. They are in a position to invest only a minimum of Rs.1 crore to a maximum of Rs.10 crores. Therefore, the Central Government should revise and implement the ceiling for availing the benefits of this scheme to Rs.1 crore and above.
From April 2022 onwards, the scheme should be calculated and the benefits under this scheme should be made available. Keeping in view the industrial development of Coimbatore and Tirupur districts, steps should be taken to revise the ceiling in the scheme in collaboration with the Union Minister for Textiles," he requested.