Govt announces 30% subsidy for upgradation of powerloom sector

Union Textile Minister Smriti Irani today announced that the government has increased subsidy by 30 per cent for upgradation of powerloom sector and for the benefit of small weavers.
Irani launched PowerTex India, a comprehensive power- loom development scheme today in Bhiwandi district of Maharashtra.
On the occasion, Irani said, Bhiwandi will be known for resurgence in powerloom sector. Prime Minister Narendra Modi has directed us to start the scheme before March end so that people get the benefit from April, she said.
Textile Minister said the PowerTex India scheme will benefit the small powerloom weaver's to survive. For upgradation of powerloom sector government has increased subsidy by 30 per cent.

The yarn bank issue has also been addressed and an assistance to the tune of Rs 2 crore will be given for the yarn bank created by 11 weavers.
A common facility centre will be started under this scheme. Under Mudra Yojana the government would give a soft loan.

With the help of Small Industries Development Bank of India (Sidbi) powerloom company can expand their business. Powerlooms using solar power would be granted 50 per cent subsidy, the Minister said.
On the occasion Irani and Maharashtra chief minister Devendra Fadnavis launched PowerTex India helpline for any assistance in this regard. PowerTex India van was also flagged off for publicity of PowerTex scheme across the country.

They interacted with office bearers of powerloom sector in remote locations like Malegaon, Ichalkaranji, Kolhapur in Maharashtra, Surat in Gujarat, Bhagalpur in Bihar, Erode in Tamilnadu, Bengaluru in Karnataka, Varansi in Uttar Pradesh and others through videolink as PowerTex India scheme launched nationwide.
This is the biggest scheme ever launched in power- loom sector in the country, Fadnavis said and hoped that powerloom centres in Maharashtra would be benefited.
As Maharashtra is an important powerloom cluster the Central government has chosen Bhiwandi to launch this scheme. The state government has increased the subsidy for power to be be supplied for the sector in the Budget in last couple of years.

Fadnavis also assured about giving subsidy in solar power for this sector.