Taiwanese firms have the potential to make large investments in Tamil Nadu’s technical textiles sector, according to V. Arun Roy, Secretary, Industries, Investment Promotion and Commerce Department, Tamil Nadu.
He said Taiwanese companies have made significant investments in Tamil Nadu’s electronics and footwear sectors. He was speaking at the Tamil Nadu-Taiwan Technical Textiles Partnership Summit, which was organised in Coimbatore on Monday by the Tamil Nadu government, Tiruppur Exporters Association, and the Confederation of Indian Industry. Since 2021, Taiwan companies and the Tamil Nadu government have signed 21 MoUs for investments totalling US $ 1.4 billion in the state.
In addition to plug-and-play facilities for technical textiles, the PM MITRA Park in Virudhunagar will have a specific space for them. Businesses from Taiwan and India ought to consider making investments in the park. He stated that the future of the textile industry, however, extends beyond the cotton sector, emphasising the need to explore opportunities in technical textiles and man-made fibres (MMF), which offer greater potential for value addition.
Maheshwari Ravikumar, director of Handlooms in Tamil Nadu, stated that the government of Tamil Nadu was examining the suggestions made in a report by Wazir Advisors to encourage the production of sportswear and athleisure in the state, was in the process of issuing an order to provide capital subsidies for the processing sector, and would be introducing technical textile courses in polytechnics and industrial training institutes.
