Chennai, Jan. 29 -- In a major boost to the Textile industry which was facing hardshipsdue to US tariff hike, Tamil Nadu Chief Minister M K Stalin on Thursday announced 20 percent capital subsdiy for purcahse of modern machinery for weaving and knitting units in theState.
Virtually inaugurating the 2-day first ever International Textile Summit-360 in the Textile cityof Coimbatore, he said for this purpose Rs 30 crore funds would be earmarked every year.
He said while ensuring incusive growth with social justice under the ruling DMK's DravidianModel regime, Tamil Nadu has retained its position as the largest exporter of readymadegarments for the lasyt five years in succession.
This accounted for 33 per cent of thecountry's total textile t...