Ministry of Textiles issues Comprehensive Scheme Guidelines for Development of Knitting & Knitwear Sector under PowerTex India

Jun 27, 2019 | by Avantis RegTech Legal Research Team

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The Ministry of Textiles has approved the Comprehensive Scheme for Development of Knitting & Knitwear Sector under PowerTex India which will be in operation with effect from July 01, 2019 to March 31, 2020.

The Components and Objectives of the Scheme are as under:

S.No

COMPONENTS

OBJECTIVES

1.

Creation of New Service centers on PPP model by Industry/ Associations in the Knitting and Knitwear clusters.

The prime objective of the Scheme is to provide adequate facilities for testing, training, sample development, consultancy, trouble shooting and facilitation services in the knitting and knitwear clusters by way of creation of new service centers in the clusters on PPP model with participation from industry/association.

2.

Modernization and Upgradation of existing PSCs/institutions run by TRAs/ EPCs Associations in Knitting and Knitwear clusters.

To equip the existing Powerloom Service Centres/institutions run by the Textile Research Associations (TRAs) (or) Export Promotion Councils (EPCs) (or) any other Textile Industry Association with requisite machineries for training/testing purposes required for knitting & knitwear industry.

3.

Group Workshed Scheme for Knitting and Knitwear units.

The prime objective of the scheme is to facilitate the establishment of Group Worksheds for modern knitting machines and/or knitwear in an existing (or) new cluster, which will provide required scale of economy for business operations and improved working condition in terms of more space, work environment, improve the work efficiency to enhance their competitiveness in the global market

4.

Yarn Bank Scheme for Knitting & Knitwear units.

To provide interest free corpus fund to Special Purpose Vehicle (SPV) / Consortium of knitting units to enable them to purchase the yarn at wholesale rate and give the yarn at reasonable price to the small Knitting unit thereby avoiding middle man/ local supplier’s brokerage charge on sales of yarn.

5.

Common Facility Centre (CFC) Scheme for Knitting and knitwear units.

To establish CFC in various knitting & knitwear clusters for providing common facilities like processing, dyeing, printing, design development, testing facilities, ETP etc. to the knitting & knitwear units.

6.

Pradhan Mantri Credit Scheme for Knitting and Knitwear units ( Stand-up India scheme)

To provide adequate and timely financial assistance to the knitting & knitwear units to meet their credit requirements, for investment needs (Term Loan), for new entrepreneurs belonging to SC/ST & Women category.

7.

Facilitation, IT, Awareness, Studies, Surveys, Market Development and Publicity for Knitting and Knitwear Units

Facilitation services to Knitting and Knitwear Units like Help line, Registration services, SMS Alert, Bank services etc.

Online Portal for Knitting and Knitwear Schemes:

To create awareness about schemes, disseminate the information about technology, products for the benefits of Knitting and Knitwear Units.

To provide a platform for Knitting and Knitwear Units to market their products at cluster level, regional level, national and international level.

Publicity of Knitting and Knitwear schemes in Electronic and Print Media.

[Resolution No. 1/6/2018-PL]

Click here to download the Resolution.


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