Haryana cabinet approves new textile policy

"The policy is packed with fiscal incentives and contains provisions for infrastructure augmentation, setting up of textile parks, promotion of khadi industry and facilities for skill training. It aims at generating 50,000 new jobs by attracting investment in the textile sector to the tune of Rs 5,000 crore," state minister for industries and commerce, Vipul Goel said after the state cabinet meeting.

Further, textile companies would get financial assistance of up to 50 per cent of the expense for adopting technology from recognised national institutes. However, the upper limit for this assistance would be Rs 25 lakh.

Under the policy, the state government will set up textile parks and facilities for skill development, said Goel adding that establishment of apparel parks are also in plan, exclusively to increase apparel production. This sector provides employment to about one million people and readymade garments worth $2 billion are exported from the state annually,

The state will lend support to execute agreements signed for developing its textile sectors. In an effort to promote the textile industry in the state, the policy talks of collaboration with various research institutions such as IIT Delhi. (RR)

Fibre2Fashion News Desk – India