Co-optex, the apex body of the handloom sector in Tamil Nadu, has earned an estimated net profit of Rs 26 crore for the year 2010-11, up from Rs 22 crore in 2009-10.
Retail sales turnover for the year rose 26 per cent to Rs 199.78 crore, including exports of Rs.1.81 crore (previous year turnover was Rs 156.73 crore, excluding sales made to Sri Lankan refugees), according to a policy note issued by the Department of Handloom and Textiles, Government of Tamil Nadu.
During 2010-11, Co-optex introduced 3,534 designs. Around 22 exhibitions were conducted, with a sale of Rs 2.74 crore.
For the year 2011-12, Co-optex plans to give a push to home textile products, ready-made shirts, kurta materials and churidars, according to the policy note.
Two major textile clusters at Thiruvannamalai and Kurinjipadi in Tamil Nadu are under implementation at a total outlay of Rs 2 crore. Ten mini clusters at a project cost of Rs 60 lakh each are also under implementation.
One mega handloom cluster at Virudhunagar has been sanctioned by the Union Government at a total cost of Rs 87.68 crore in which Government of India share is Rs 70 crore and State share is Rs 8.84 crore; remaining amount of Rs 8.84 crore will be borne by the beneficiaries. The scheme will be implemented over a period of five years.