- The Union Ministry of Textiles launched Power Tex India, a three-year comprehensive scheme for Powerloom Sector Development in April 2017.
- It has outlay of Rs. 487 crores for three years from 2017-18 working out to approximately Rs. 160 crore a year.
Powerloom sector has been facing numerous challenges due to sluggish global and domestic market conditions. Though the capacity has increased by 12 per cent in the last seven years, fabric production has increased only by 2.4 per cent during the last seven years
Components of the Scheme
It has nine major components, including two new schemes.
- In-situ Upgradation of Plain Powerlooms
- Group Workshed Scheme (GWS)
- Yarn Bank Scheme
- Common Facility Centre (CFC)
- Pradhan Mantri Credit Scheme for Powerloom Weavers
- Solar Energy Scheme for Powerlooms
- Facilitation, IT, Awareness, Market Development and Publicity for Powerloom Schemes
- Tex Venture Capital Fund
- Grant-in-Aid and Modernisation & Upgradation of Powerloom Service Centres (PSCs)
The two new schemes are Pradhan Mantri Credit Scheme (PMCS) for powerloom weavers and solar energy scheme (SEC) for powerlooms.
The scheme would greatly benefit the powerloom sector to improve its competitiveness in the global market and also enable the sector supply quality fabrics at a competitive rate to the garmenting and made-up sector.