New technical textile zone for enhancing sector
Source: Fibre2fashion News Desk - India Date: 2008-09-11
The immense growth that has been marked in the technical textile sector has made entrepreneurs related to the industry invest in it. To gain from the current situation the Hydra Consulting Services Private Limited, Bangalore, in collaboration with the Textiles Committee of the Union Ministry of Textiles and the Knit Cloth Manufacturers Association, is planning to develop a technical textile manufacturing zone The Hydra Confederation, in Tirupur.
Mr Sampath Kasirajan, Managing Director, Hydra Consulting Services Pvt Ltd informed Fibre2fashion, “The new zone that will be completed by 2010, is being designed for Small and Medium Enterprises (SMEs) for which the blue print is ready. A team of 25 European expertise led by Dr Mettu is taking care of this plant. The total investment of the eco friendly project that will come up in 200 acres of land is going to be around Rs1500 million. Along with this, nearly Rs2500 million will be invested for technology purposes.
“The plant is not merely going to be an industrial zone but Hydra is using a unique Confederation model that does away with many of the flaws that came with the Park and Industrial Estate models. The Confederation, in our view, is a very suitable model and framework for SMEs to find success. In addition to these supports, the confederation will offer support in regard to Market Linkages, Joint Ventures and Private Equity funding, subject to norms being met.”
The Managing Director further divulged that, “Various economic zone like Manufacturing support system, Business support system. Auxiliary & Utility areas will also be established here. Till now 40 applications for investment are received the number is expected to grow further. If this happens then the area of land which is near the airport will be increased from 200 acres to 250 acres. The entire process relating to Transfer of Technology, Training and Quality Management will be handled by a team of experts from Italy and other parts of Europe.”
At present, India is importing technical products worth nearly US $5 billion to meet the domestic demand, which has been witnessing an annual rise of 8 percent. This new plant is anticipated to boost this sector by housing almost 35 SMEs.
D Dhandapani, Deputy Director and G Venugopal, Cluster Development Executive of Textiles Committee have formed teams to launch capacity-building campaigns that would help the units gear up for this project.
