India, March 10 -- P Nataraj, Chairman, the Southern India Mills' Association (SIMA) has thanked the Chief Minister and Minister for Handlooms & Textiles, OS Manian and also welcomed the various benefits announced in the policy. He has thanked the Government for extending 2 per cent interest subsidy for modernising spinning machines of above 15 years old. He said that out of 24 million spindles in the State, around 11 million spindles are above 15 years old and this benefit would help the spinning sector to modernise the same. He welcomed the various benefits extended for the weaving and garment sectors including 10 per cent capital subsidy for all new machines. He appreciated the announcement of 25 per cent of the project cost with the cei...