PC announces 10% capital subsidy for textile

Chidambaram announced ten per cent capital subsidy for the textile sector. The allocation for Rs 25,000 crore technology upgradation fund has been increased by Rs 435 crore.

Rs 20,000 crore has already been spent by the textile industry to meet challenges of post quota regime. It is to go up to Rs 30,000 crore in the near future.

He announced a manufacturing competitiveness programme to improve the small scale and medium sized manufacturing industries.

He also announced Rs 40 crore for modernisation of 20 clusters of handloom manufacturers.