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The Textile Metamorphosis

India is at the brink of Industrial revolution. From emerging as the sourcing hub for technology led service, it is looking at a transition into becoming the world's production centre for value added products. India has always been known for the high quality of its textile products. Strong raw material base such as cotton and polyester and with its core competencies in producing woven fabric, knitwear and value added textiles; the future potential to market these products at the global level looks promising.

The Flagships Scheme of Textile Ministry "Scheme for Integrated Textile Park" (SITP) is aimed at creating high level Infrastructure to ensure the competitiveness of the textile cluster development. With the merger of the

Apparel Parks for Exports (AEP) and the Textile Centre Infrastructural Development Scheme (TCDIS), it gave birth to the Scheme of Integrated Textile Parks (SITP). It was initiated to provide the Indian Textile industry with world class infrastructure. It would comprise of international environmental and social standards. Each of the Integrated Textile Parks (ITP) would be an initiative of nearly Rs.750 crores and also will be providing employment to nearly 2000 people. While it is an ambitious project, the SITP proposal is an answer to all the long-term concerns of the industry. With common infrastructure that matches to international standards and faculties like Research labs, testing labs, design centres, workers hostels, trade centre, raw material depots and recreational facilities for the employees, it promises a lot of potential for the growth of the industry.

The funding of these projects is a mix of equity and grants from the central government, the state government and loans from the banks. The ceiling for the central government involvement is up to Rs.40 crores or 40% of the project cost but shall not exceed 49% of the total project cost as per the directives from the government.

Palladam Hi-Tech Weaving Park is Special Purpose Vehicle (SPV) set up under the Scheme of Integrated Textile Parks (SITP), with the active support of Government of India and Government of Tamilnadu.