According to the announcement made by the government of India, about 682 mills closed as the June 2017 ended. Conferring to the sources, 232 mills were in Tamil Nadu, 85 in Maharashtra and 60 were in Uttar Pradesh while about 42 such mills were in the region of Haryana.
Smriti Irani, the textile minister of India, shared the update while speaking to the Lok Sabha telling that about 1,399 textile mills were operational on 30th of June 2017 and all these are the non-small scale mills. “Under this government, the textiles industry saw the largest amount of Foreign Direct Investment (FDI),” she added in her discussion. Proceeding further she said that “The GST (Goods and Services Tax), as well as the labour reforms, have been welcomed by the industry.”
While talking about the Amended Technology Up gradation Fund Scheme (ATUFS), that was launched last year, Irani said that “there are benefits in terms of one-time capital subsidy of 15% for the garments and technical textiles segments with a cap of Rs 30 crore.”
Apart from this, there is about 10% capital subsidy for weaving, jute, silk, processing and handloom segments, with the subsidy cap of Rs 20 crore for setting up new textile units as well as for the expansion of the existing units with benchmarks technology.
