AEPC urges Textile Ministry to release funds for Tirupur KTM project | SupportBiz

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AEPC urges Textile Ministry to release funds for Tirupur KTM project

 
Tags: AEPC, KTM project
The Apparel Export Promotion Council (AEPC) Chairman A. Sakthivel has requested the Union Textile Minister K.S. Rao to release the grant of Rs 18.24 crore for the Knitwear Technology Mission (KTM) project in Tirupur before September 30 to avoid lapses, reports Business Line.

The Knitwear Technology Mission will work on developing synthetic knitwear in the country, ensure training to the workers and generate jobs.

Sakthivel said that, the ministry had initially disbursed a sum of Rs 5 crore to the council to buy machineries, of which, the council has utilized only one crore and returned the rest 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,” he said.  

Sakthivel expects that the KTM project will enable the industry to secure additional exports worth $2,000 million in the next two-three years. He requested the Ministry to release funds for the KTM project in Kolkata too.