PowerTex India

Source: Ministry of Textiles

It was launched by the Ministry of textiles.It is a comprehensive scheme for powerloom sector development, simultaneously at over 45 locations in the country

The comprehensive scheme has the following components and its objectives:

Scheme-Components	Objectives
In situ Upgradation of Plain Powerlooms	The prime objective of the scheme is to upgrade existing plain looms to semi-automatic/shuttleless looms to improve quality and productivity of the fabric being produced by way of fixing certain additional attachments/kits and enable them to face the competition in domestic and international markets, by way of providing financial assistance to economically weaker low-end powerloom units.
Group Workshed scheme	The prime objective of the scheme is to establish Group Work Sheds for shuttleless looms in an existing or new cluster, which will provide required scale of economy for business operations. To organise powerloom units in a cluster and to provide improved working condition in terms of more space, work environment, improve the work efficiency to enhance their competitiveness in the global market.
Yarn Bank Scheme	To enable small Powerloom weavers to purchase the yarn at wholesale rate and in large quantities by avoiding middle man/local supplier’s brokerage charges by providing interest free corpus fund to Special Purpose Vehicle (SPV) / Consortium of Powerloom weavers.
Common Facility Centre (CFC) scheme	To establish Common Facility Centres (CFC) in various Powerloom clusters and provide pre-weaving, post weaving and other infrastructure facilities to Powerloom weavers/units, powerloom industry associations and other organizations allied with Powerloom industry by providing financial assistance for the setting up of Common Facility Centres (CFC).
Solar Energy scheme for Powerlooms	The prime objective of the scheme is to alleviate the problem of power cut / shortage, being faced by the decentralized powerloom units in the country, so as to improve utilization, efficiency, productivity etc. to face the both domestic and international markets competitively by providing financial assistance/capital subsidy to small powerloom units for installation of Solar Photo Voltaic (SPV) plant.
Pradhan Mantri Credit Scheme for Powerloom Weavers	To provide adequate and timely financial assistance to the powerloom weavers to meet their credit requirements, for investment needs (Term Loan) as well as for working capital, in a flexible and cost effective manner.
Grant in Aid and Modernisation/ Upgradation of Powerloom Service Centres	To enable Powerloom weavers in various clusters to avail services of Powerloom Service Centres. Textile Research Associations (TRAs)/State Govt. agencies are running 32 no. of PSCs located across the country and providing various services like training, sample testing, design development, consultancy, conducting seminar/ workshop, etc. to the powerloom sector on behalf of the GoI. The Grant-in-Aid (GIA) provided to the PSCs of TRAs/State Govt. agencies is mainly for the recurring expenses for running the PSCs for providing the services to powerloom sector. The Govt. assistance will be provided for modernization of the existing infrastructure etc. Powerloom Service Centres and other facilities required in cluster for common services.
Tex Venture Fund	To assist the Powerloom and allied units under MSME Sector for boosting their net-worth, leverage commercial bank debt, improve their manufacturing capacity and sales turnover, increase competitiveness and profitability by way of investment in the equity shares and / or instruments convertible into equity of textile units through Tex Venture Fund. The fund would operate under the Securities Exchange Board of India’s Alternative Investment Fund Regulations 2012 (SEBI’s AIF Regulations 2012).
Facilitation, IT, Awareness, Market Development and Publicity for Powerloom Schemes	Facilitation services to powerloom weavers like Help line, Registration services, SMS Alert, Bank services etc Online Portal for Powerloom Schemes To create awareness about schemes, disseminate the information about technology, products for the benefits of powerloom weavers/workers. To provide a platform for powerloom weavers to market their products at cluster level, regional level, national and international level. Publicity of powerloom schemes in Electronic and Print Media