According to 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 project.
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.
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.