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22 Feb 2024, Edition - 3145, Thursday

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Coimbatore

TEA team in Odisha to explore business opportunities

Covai Post Network

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Garment manufacturers in nearby Tirupur are exploring investment opportunities in Odisha and had preliminary discussions with the officials there regarding setting up a textile park in Bhuvaneshwar.

A delegation of Tirupur Exporters Association (TEA) which is on a three-day visit, also held discussions with the Chief Development Commissioner, the Textile secretary and the Skill Development Corporation chairman regarding the government’s apparel policy, TEA general secretary T R Vijayakumar said today.

The delegation visited Ramdaspur, the proposed venue for the park, and TITCO Industrial Corporation, which has allocated 70 acres to park. The team got to learn about the facilities there including water and power availability and road infrastructure.

According to the new policy, the Central and State Governments provide 60 per cent subsidy on building and common facilities under SITP (Scheme for Integrated Textile Park), 25 per cent subsidy for new machinery, Rs 1crore interest-free working capital loan, minimum wages of Rs 220 for eight hours and reimbursement of Rs 1,500 for new labour.

Ten companies can come together and start a textile park in Odisha, Vijayakumar added.

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