PowerTex India Scheme launched by the Union Ministry of Textiles

The PowerTex India scheme has been launched by the Indian Union Ministry of Textiles. It is a three-year all-inclusive scheme focused on the development of country’s Powerloom Sector.

The objective of the scheme is modernization of country’s powerloom sector, along with the improvement of the sector’s common infrastructure. The aim of the scheme is to boost country’s powerloom sector by providing financial support to powerloom weavers.

The would help improve the competitiveness of Indian powerloom sector in the global market, and will also enable the sector to supply quality fabrics to the made-up sector and garmenting sector at a competitive rate .

PowerTex India scheme: Key Features

  1. The scheme embraces branding, subsidies, new markets, new research & development in power loom textiles, and welfare schemes for the powerloom workers.
  2. The scheme consists of nine major components to support powerloom sector of the nation, which includes the solar energy scheme (SEC) for powerlooms and the Pradhan Mantri Credit Scheme (PMCS) for powerloom weavers.
  3. The PowerTex India scheme has an expenditure of 487 crores rupees for the three years starting from the year 2017-2018.
  4. Under PMCS for powerlooms scheme, financial assistance, including interest reimbursement and margin money subsidy will be provided to the decentralized power loom units against the credit facility under the Pradhan Mantri Mudra Yojana.
  5. Under, solar energy scheme for powerlooms, financial subsidy for Solar Photo Voltaic Plants installation will be provided to improve the power cut problems.
  6. Under the scheme, 50% subsidy will be provided by the government to power loom units that have a maximum of eight looms for solar energy adoption for captive use either off grid system or in grid system.
  7. Some important components of the scheme include the Yarn Bank Scheme, the Common Facility Centre (CFC), the In-situ Upgradation of Plain Powerlooms, the Tex Venture Capital Fund, the Market Development & Publicity for Powerloom Schemes, the Group Workshed Scheme (GWS), Facilitation, Information Technology, and Awareness.

 

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