Economy

AEPC seeks immediate release of funds for Tirupur KTM project

L. N. Revathy Tirupur | Updated on March 12, 2018 Published on September 26, 2013

The Apparel Export Promotion Council has sought release of Rs 18.24 crore by the Textile Ministry for the Knitwear Technology Mission (KTM) project in Tirupur.

AEPC Chairman A. Sakthivel has appealed to Union Textile Minister K.S. Rao to release the sum before September 30 to avoid lapses.

Sakthivel said that the council was given a grant of Rs 5 crore in the first phase for procurement of machines. After utilising around Rs one crore, the council returned the balance to the Ministry.

“The APEC has already purchased the land and constructed classrooms, laboratories etc. The financial support to set up garment section, knitwear and embroidery machines, design studio, establishment cost, project management and operating costs amounts to Rs 18.24 crore.’’

The project envisages development of synthetic knitwear in India, product development and training opportunities for workers.

The industry would be able to secure additional exports of $2,000 million in the next two-three years besides creating job opportunities and import substitution, he said, justifying the appeal for immediate release of the grant.

While seeking the grant, Mr Sakthivel urged the ministry to consider releasing funds for the KTM project at Kolkata, so that the process could be initiated.

Published on September 26, 2013
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