Latest news with #A.Sakthivel
The Hindu
02-07-2025
- Business
- The Hindu
PM MITRA textile park in Virudhunagar to boost TN's textile capability
The Virudhunagar PM MITRA Park, encompassing 1,052 acres, which got Central government's approval of ₹1,900 crore, is set to become a world-class hub for technical textiles and an integrated manufacturing hub, said A. Sakthivel, vice-chairman of the Apparel Export Promotion Council (AEPC), in a press release on Wednesday. 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.
Fashion Value Chain
07-05-2025
- Business
- Fashion Value Chain
India-UK FTA to Boost Apparel & Textile Exports, Jobs, Growth
The newly signed India-UK Free Trade Agreement (FTA) is being hailed as a historic leap forward for India's economy, with apparel and textiles among the biggest beneficiaries. With tariffs eliminated on 99% of Indian exports, the deal offers Indian manufacturers unprecedented market access in the UK, enabling a surge in exports, job creation, and global competitiveness. The FTA removes longstanding trade barriers for labour-intensive sectors including apparel, leather, marine products, footwear, and toys—placing India firmly on the path to becoming a global textile hub. Dr. A. Sakthivel, Chairman of the Apparel Made-Ups & Home Furnishing Sector Skill Council, called the deal a 'Himalayan achievement', thanking PM Narendra Modi and Union Commerce Minister Piyush Goyal for their leadership. 'This will energize exports and significantly boost employment across the value chain,' he said. In addition to goods, the FTA enables service sector growth linked to fashion, retail, and design—offering Indian talent, especially youth and entrepreneurs, new global opportunities. A standout provision is the three-year exemption from UK social security contributions for Indian professionals, allowing better income retention and ease of mobility. The agreement also enhances India's strategic alignment with the UK, strengthens its post-Brexit trade footprint, and supports PM Modi's vision of showcasing Indian craftsmanship and innovation on the global stage. With wide-ranging benefits, the FTA is expected to accelerate inclusive growth and bolster India's status as a trusted global trade partner.
