Bengaluru, March 12: Union Textiles Minister Smriti Irani has assured a 100 crore rupees Textile Park for Karnataka. The minister has said her ministry will support any number of yarn banks proposed by the Industry.
She said, as an assistance to silk weavers, her ministry is prepared to sanction five crore rupees for the setting up of a Yarn bank in the state.
Powerloom owners, she pointed out can upgrade their plain powerlooms to semi-automatic looms by availing 20,000 rupees per loom incentive from the ministry.
Earlier, Union Chemicals and Fertilisers minister Ananth Kumar inaugurated the power tex portal and mobile app that provides information about various schemes and incentives of the textile ministry.
He assured silk growing farmers that their request to increase import duty on silk from 20 to 35 percent will be looked into.
The silk farmers have been demanding for duty increase but silk fabric manufacturers are seeking its reduction.
Hence Union Minister Ananth Kumar has asked both to come to a consensus and approach the Government. Those finding it hard to buy silk yarns will benefit from the proposal to set up yarn bank.