Coimbatore, Sept. 16 -- The chairman of Southern India Mills Association (SIMA) Ravi Sam on Thursday said that the Tamil Nadu industry should invest more in renewable energy to remain competitive.
While addressing the annual meeting of the association, Sam said that the cost of grid power has crossed Rs 8 a unit in almost all the major textile manufacturing States, except those having hydel power generation capacities. This has impacted the cost competitiveness of the textile industry in the country.
Cost of energy accounts for over 40 per cent of yarn manufacturing cost and it has become imperative for the textile mills to plan for 100 per cent captive power generation, be it wind or solar, he said.
Sam further highlighted that th...