Chennai, March 14 -- Tamil Nadu Finance Minister Thangam Thennarasu on Friday
told the State Assembly that to address the evolving technological needs of the
powerloom sector, which supports the livelihood of five lakh powerlooms, a Powerloom
Modernization Scheme will be implemented at an estimated cost of Rs.50 crore.
Presenting the Budget for the year 2025-26 in the House, he said this project will provide
capital subsidies to upgrade three-year-old conventional powerlooms into modern ones,
enabling the production of high-value fabrics.
Annually, a sum of Rs.30 crore will be allocated to upgrade 3,000 looms, while Rs.20 crore
will be designated for establishing infrastructure such as loom sheds, common facility centres,
and qualit...