A news release stated that owners of textile businesses in Tirupur could get in touch with the joint textile commissioner’s office if they would like Government assistance to modernise their spinning machines or establish mini textile parks.
The micro textile park concept has been modified by the Government to provide additional funding for the construction of industry buildings, infrastructure facilities, and structures related to industry services. For a mini textile park to qualify for 50 per cent of the Rs. 2.5 crore (US $ 292,000) project cost subsidy, it must have three industrial units and be at least two acres in size.
The release added that 19 parks are now being developed throughout seven districts.
The Government offers a five-year interest subsidy to replace spinning machinery that is older than five years as part of the spinning mill modernisation program. For ring spinning, open end spinning, and air jet spinning mills that placed orders for the new equipment after 9th December 2024, this is accessible.
