PM MITRA textile park in Virudhunagar to boost TN's textile capability
The park will include a 15 million litres a day (MLD) Zero Liquid Discharge (ZLD) Common Effluent Treatment Plant, a 10,000-bed workers' dormitory, and over 1.3 million sq. ft. of ready-to-use infrastructure. The park is projected to attract investments worth ₹10,000 crore and generate employment for over one lakh people by 2026.
This facility will significantly boost Tamil Nadu's competitiveness, particularly in the areas of value-added, sustainable, and export-oriented apparel manufacturing. The AEPC will support the successful implementation of the PM MITRA initiative, with plug and play manufacturing facilities, in close collaboration with both, the Central and State governments, Mr. Sakthivel said.
The Central government's announcement is a transformative step towards reinforcing the country's leadership in the global textile sector. The State government's continuous engagement and sustained efforts have culminated in this achievement for the State's textile sector, he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
11 hours ago
- News18
UPS Deadline Extended To Sept 30: How You Can Avail The Scheme Under NPS
Last Updated: Here is a simple step-by-step guide to help Central Government employees shift from NPS to UPS (Unified Pension Scheme) online, based on the official SOP document. UPS Deadline: The Government of India has extended the deadline to opt into the Unified Pension Scheme (UPS) under NPS to 30th September 2025. It was earlier scheduled to end on July 31, 2025. Eligible subscribers – existing central government employees under NPS, past retirees, and legally wedded spouse of deceased retirees – now have 3 months to opt for UPS. What Is UPS? The Indian government has introduced an option for the central government employees to choose the Unified Pension Scheme (UPS) under the National Pension System (NPS). UPS allows them to receive an assured payout after their retirement. The UPS has become operational from April 01, 2025. Basically, UPS is a fund-based payout system which relies on the regular and timely accumulation and investment of applicable contributions (from both the employee and the employer (the Central Government) for grant of monthly payout to the retiree. How Does UPS Different From NPS? While NPS is market-linked with returns depending on equity and debt performance, UPS offers assured pension payout based on last drawn salary. NPS is subject to market fluctuations, while UPS has low-risk, as pension is guaranteed. NPS's amount will depend on corpus accumulated through investments. UPS, on the other hand, minimum assured pension of Rs 10,000 per month after 10 years of service. Here is a simple step-by-step guide to help Central Government employees shift from NPS to UPS (Unified Pension Scheme) online, based on the official SOP document: Who Can Apply? Central Government employees in service as of April 1, 2025 Must be currently enrolled under NPS Must want to shift to the new UPS scheme offering assured pension payouts Step 1: Visit the eNPS Portal Go to: Click on 'NPS to UPS Migration" under the Unified Pension Scheme section Step 2: Enter Your Details Enter your PRAN (Permanent Retirement Account Number) Enter your Date of Birth Solve the Captcha Step 3: OTP Verification You will receive an OTP on your registered mobile number or email ID Enter the OTP to proceed Step 4: Read and Accept the Declaration A declaration window will appear Read carefully and tick the box to accept Click on 'Proceed to e-Sign" Note: Once submitted, this choice is final and cannot be changed Step 5: e-Sign Using Aadhaar Enter your VID (Virtual ID) or Aadhaar number Click 'Send OTP" You'll receive an OTP on your Aadhaar-linked mobile number Enter the OTP and click 'Verify OTP" Step 6: Confirmation If successful, your shifting request will be submitted An Acknowledgement Number will be generated You can download the e-Signed migration form for your records Optional: Offline Method You can also apply offline by: Downloading Form A2 from: Submitting it to your nodal office, who will process it on the CRA portal About the Author Varun Yadav Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : ups view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
15 hours ago
- NDTV
"Public Prefers Notes Over...": Centre To Court Over Plans To Issue Rs 50 Coins
Delhi: The Central government has informed the Delhi High Court it has no plans to introduce Rs 50 coins at present, citing public preference for using banknotes over coins, especially for Rs 10 and Rs 20 denominations. A petition was filed earlier seeking issuance of Rs 50 coins to make it more accessible to the visually impaired. The petitioners said they had conducted a study on the challenges faced by visually impaired citizens due to the design of currency notes. Replying to the petition, the Department of Economic Affairs of the Union Finance Ministry said that a survey conducted by the Reserve Bank of India (RBI) had shown that the public finds it inconvenient to use coins due to their weight and similarity in sizes across denominations. The reply said: "With regard to the feasibility of introducing a Rs 50 coin, it is submitted that the RBI conducted a survey in 2022 to analyse the usage patterns of existing coins and banknotes in circulation. The findings revealed a preference for banknotes over coins for the Rs 10 and Rs 20 denominations." The survey, said RBI, indicated that the public is currently more inclined towards using banknotes rather than coins in the Rs 10 and Rs 20 denominations. "Any decision to introduce a Rs 50 coin would depend on several factors including requirement of the economy, degree of public acceptance etc., in addition to the concerns of the visually impaired persons. At present, no proposal regarding the introduction of a Rs 50 coin is under consideration by the Department," the Centre told the High Court. The petition also stated that while Rs 1, Rs 2, Rs 5, Rs 10, Rs 20, Rs 100, Rs 200, Rs 500, and Rs 2,000 currency notes are designed to be accessible to visually impaired persons, the Rs 50 note lacks such features. Responding to the petitioners, the Centre said that identification marks in the form of raised printing are not present in the Rs 10, Rs 20 and Rs 50 denominations of the Mahatma Gandhi (New) Series. "According to the RBI, the reintroduction of intaglio printing in lower denomination notes was found to be unfeasible, as the tactile effect of such printing tends to erode more rapidly due to the high frequency of handling," the reply stated. It added that the reintroduction of intaglio printing - a printmaking technique that uses variations of scratching, cutting or incising to create images - in these denominations would largely affect the cost and efficiency of currency production. The Centre further said that RBI had launched a mobile application called MANI (Mobile Aided Note Identifier) in 2020 to aid visually impaired persons to identify the denomination of banknotes.
Time of India
20 hours ago
- Time of India
Trump's new tariffs may open doors for India's textiles, but tough rivals remain in play
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The latest round of tariff announcements by US President Donald Trump has introduced fresh uncertainty into global textile trade, with Indian exporters remaining cautious despite an apparent edge over Bangladesh, which has been hit with a 35% duty, ToI are closely watching New Delhi's trade negotiations with Washington, as Trump claimed that the deal with Vietnam allows him to impose a 20% tariff, even though there may be concessions for specific product categories. The final outcome remains unclear as countries, including Bangladesh, are scrambling to rebalance the situation through talks with the US government."We need to watch how tariffs move. Buyers are a little confused at the moment," V Elangovan, managing director of Tirupur-based SNQS International, told ToI. He said the market is further complicated by competition from China. "Retailers have to fill their shelves. Last week, our merchandisers were in Shanghai, we could not compete because the Chinese were quoting better prices this year than last year. It is not clear how they can do so when the tariff for them is higher. We need more hand-holding from govt," he Indian products remain competitive in garments and home textiles, exporters and government officials have been pushing for zero duty access, but even if a trade deal is concluded, it appears unlikely that the Trump administration will roll back the baseline 10% tariff applied to all countries. Indian exporters currently face this 10% duty, which gives them an advantage over Bangladesh and Vietnam, but only if competing countries are not provided new categories like natural garments, where India has a traditional advantage, the cost disadvantage is relatively small, at 3–4%. However, for synthetic garments , Indian manufacturers face a larger cost gap of around 10–11%, mainly due to higher production costs, according to the Apparel Export Promotion Council (AEPC)."India, even with the existing reciprocal tariff rate (26% announced in April), will gain in export competitiveness vis-a-vis major garment exporting competing countries. Besides, we are quite hopeful of India striking a favourable trade deal which will further improve the competitiveness of India's apparel exports in all important US market... even a moderate reduction in the reciprocal tariff to around 15% could significantly improve our competitiveness across both natural and synthetic garment categories, thereby opening infinite export possibilities for India amid shifting global sourcing trends," said AEPC CEO Mithileshwar the current tariff rates—India at 26%, Vietnam at 20%, and Bangladesh at 35%—India is competitive against Bangladesh in the natural garments category but faces price pressure in synthetics. "It is looking good for us and a trade deal will help," said K M Subramani, president of Tirupur Exporters' the question remains whether Indian garment manufacturers are in a position to scale up production, particularly as many continue to hold back on investing in capacity of Indian textile firms, including Gokaldas Exports Vardhman Textiles , and Arvind Ltd , rose as much as 8.2% in intraday trading on Tuesday, July 8, following the US administration's announcement of the new 35% tariff on Bangladeshi apparel and textile exports. The increase was seen as a reaction to the opportunity created by Bangladesh's tariff new 35% tariff, which takes effect from August 1, represents a slight reduction from the earlier proposed 37% announced in April. Despite this, it remains significantly above the standard 10% base rate and is expected to dent Bangladesh's position in the global apparel on the other hand, continues to face a 10% average tariff on textile exports to the US, although some product segments attract duties as high as 26% due to differences in classification and product type. This ongoing shift in global tariff structures is likely to change the competitive equation, especially if India's trade negotiations with the US lead to a reduction in players are expected to monitor closely any movement on a potential bilateral trade agreement between India and the US. Last week, an Indian delegation returned from Washington after holding discussions. A favourable outcome in the form of reduced tariffs on Indian textile exports could help improve pricing power and market share in the US, which remains a critical market for the sector.(With ToI inputs)
