Industrial Policy :
the Industrial Policy of the Government, setting up of new units or expansion of
the existing units producing textile machinery is permitted without any licence
subject to locational policy; but only submission of a simple Industrial Entrepreneurs
Memorandum (I.E.M.) form to the Secretariat of Industrial Approvals (SIA) with a
copy to the sponsoring authority is required. Small scale units have to register
with the Directorates of Industries of the concerned State Governments.
Import of foreign know-how :
Automatic approvals are given by the Reserve Bank of India for entering into foreign
collaborations of setting up joint venture projects on submission of requisite forms
to the RBI. Foreign direct investment is permitted to the extent of 85% of the new
Administrative/Sponsoring Authorities :
The Administrative Ministry for the Indian Textile Machinery Industry is the Department
of Heavy Industries of the Ministry of Heavy Industries and Public Enterprises.
The Textile Machinery Branch of the Office of the Textile Commissioner, Mumbai is
the sponsoring authority for the Textile Machinery Industry.
Future Outlook :
The TEI is capable of providing the requisite hardware conforming to the specific
requirements of the second largest textile industry of the world viz. The Indian
Textile Industry as also can cater to the specific machinery needs of foreign buyers
and both qualitywise and technologywise including sophisticated technology. It can
deliver complete or semi-turnkey projects besides imparting effective and prompt
after-sales-service. The industry has a well-trained and ample workforce to carry
out the above activities.
With the vast market opportunities available both at home and abroad and with the
upgradation in technology the TMI will be able to cash market potentials through
its persuasive and unstinted efforts to serve the Textile Industry at large.