Monday, 03 April 2017 09:06

Press Briefing for PowerTex India programme held at Malegaon on 01.04.2017

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Ministry of Textiles, Government of India, has today launched PowerTex India programme   for benefit of Powerlooms Sector of Textiles. The Scheme was simultaneously launched in nine Powerloom clusters across India. Malegaon was one of the Poweloom Cluster wherein the Scheme was launched by Hon’able Union Minster of State for Defence Dr. Subhash Bhamre. Hon’able MLA of Malegoan Central Sh Shaikh Aasif Shaikh Rashid and Sh  A Madhukar Reddy, Joint Secretary Ministry of Textiles was also present during the launching Programme.


The Progaramme was simultaneously launched across nine Powerloom clusters by Union Minister of Textiles Smt.Smriti Zubin Irani and Chief Minister of Maharashtra through video link from Bhiwandi.


PowerTex India, a comprehensive scheme for powerloom sector development was  launched w.e.f. 1.04.2017 consisting of following components.


Ø  In-situ Upgradation of Plain Powerlooms: Provide subsidy of 50%  – 90% to upgrade plain powerlooms by attaching specified kits.

Ø  Group Workshed Scheme (GWS): Provide subsidy of  40% - 90% on construction cost of Group Workshed.

Ø  Yarn Bank Scheme: Provide interest free corpus fund of Max.Rs.2 cr to the SPV formed by powerloom weavers to purchase raw yarn at reasonable price.

Ø  Common Facility Centre (CFC): Provide subsidy of Max. Rs.2 crore to the SPV formed by powerloom weavers for construction of building and installation of machineries which is meant for common use by the powerloom weavers.

Ø  Pradhan Mantri Credit Scheme for Powerloom Weavers: Provide margin money subsidy of Max.Rs.1 lakh and interest subvention of  6% on the term loan availed under PMMY for 5 years. Margin money subsidy of Max.Rs.25 lakh on the term loan availed under Stand-up India scheme by SC/ST/Women powerloom entrepreneurs.

Ø  Solar Energy Scheme for Powerlooms: Provide subsidy of 50%  – 90% for installation of Solar Energy system by powerloom weavers.

Ø  Facilitation, IT, Awareness, Market Development and Publicity for Powerloom Schemes: Establishment of Help centre, Toll free helpline, user friendly online portal to avail benefits of the schemes, conducting awareness programmes, BSM, etc.

Ø  Tex Venture Capital Fund: Max. investment of Rs.3 crore in innovative private powerloom MSME companies by SIDBI Venture Capital Ltd., (SVCL).

Ø  Grant-in-Aid and Modernisation / Upgradation of Powerloom Service Centres: Provide financial assistance upto Rs.17 lakh to the PSCs of TRAs/State Govt. agencies for recurring expenses


·        PowerTex India will be in operation from 01.04.2017 to 31.03.2020

·        A Van displaying the benefits of the Scheme was also flagged off by the Dr. Subhash Bhamre ,Union Minister of State for Defence. The van will display and create awareness about the benefits of the Powerloom Scheme across various clusters of Malegaon.




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