Solar Energy Scheme for small powerloom units will get Rs. 2.5 lakh Subsidy per unit

The scheme will enable to repay the bank loans in a span of 3 to 4 years.

Solar energy scheme for small units of powerlooms was announced by the Ministry of Textiles in regards with on-grid solar PV plant (without battery backup) and off-grid solar PV plant (with battery backup) in which a subsidy of Rs. 2.50 lakh will be given by the government.

Textile Commissioner Kavita Gupta, citing her concerns said “The ministry of textiles has announced several promotional schemes for powerloom textile industry but there is hardly any awareness in the industry. The maximum benefit of these schemes have been taken by the entrepreneurs of Gujarat and Tamil Nadu,” at the Buyer-Seller Meet and Textile Exhibition. The scheme will enable to repay the bank loans in a span of 3 to 4 years, hence the unit will receive free electricity afterwards, she added.

There are as many as 25 lakh  powerlooms across the country, of which 12.5 laksh corresponding to 50 percent are in Maharashtra alone with 72 textile parks and 108 powerloom clusters in the country.

Clothing Manufacturers Association of India (CMAI) President Rahul Mehta said “However, the export target for 2017-18 will not be attainable and is likely to remain at the last year’s level. Also the new duty drawback rates, that ended on September 30 are not yet announced. If these rates are around 2-3 per cent, the total incentive will be around 8 per cent, which was 11.50-12 per cent earlier.” He also said that the apparel export for 2016-17 was 16.8 billion dollars and the target for 2017-18 is 20 billion dollars.

Source: ET EnergyWorld