Gujarat textile policy draws Rs 9,200-cr of investment
With just over a year left for Gujarat's 2012 Textile Policy, it has so far attracted investment commitment worth Rs 9,208 crore through varied units such as weaving, made-ups, processing, spinning, ginning and technical textiles, the Business Standard has reported.
The investments so far are less than half of the Rs 20,000-crore target envisaged in the policy that will run till 2017. The policy had also targeted the creation of 2.5 million jobs by 2017.
Under the policy, 549 textile units have got approval. The latest nod is for a textile and apparel park coming up in Surat. This park will come up on 62 acres, house 42 manufacturing units and generate 1,900 jobs. So far, 12 such parks have received in-principle nod.
The Gujarat government has set up a ministerial committee led by the state's Industries Minister Saurabh Patel, to look into the approvals and promotion of the textile sector in the state by incentivising the same.
The committee met for its 10th meeting recently and approved 43 units — 42 units of weaving, made-ups, knitted fabric, processing, embroidery, cotton ginning and twisting, and one unit of technical textiles. These units, to come up in Surendranagar, Surat, Botad, Morbi, Rajkot, Valsad, and Junagadh districts, bagged approval for interest subsidy and value-added tax (VAT) concession for all units, apart from power rate subsidy for weaving units.
These units have invested Rs 603 crore for plant and machinery. Among the incentives, while made-up units will enjoy interest subsidy of seven per cent, technical textiles and rest of the units will enjoy six per cent and five per cent, respectively, Patel said.
In the past nine meetings of the committee, 506 units investing around Rs 8,605 crore bagged approval. (SH)
Fibre2Fashion News Desk – India