Haryana govt to offer incentives for new textile units

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

“Taking a holistic approach to the issue, the policy is packed with fiscal incentives and contains provisions for infrastructure augmentation, setting up of textile parks, 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,” an official spokesperson said.

The policy has been especially prepared to benefit the state’s cotton belt comprising Bhiwani, Sirsa, Fatehabad, Hisar and Jind districts. “This sector provides employment to about one million people and readymade garments worth $2 billion are exported from the state annually,” the spokesperson said.

The policy aims at making Haryana a preferred destination for international textile majors, and increasing textile exports at 20 per cent CAGR during the policy period.

In addition, a textile park would be set up at Hansi in Hisar district. The park would house weaving, sizing and garmenting enterprises. The existing quality marking centre for textile goods at old industrial area in Panipat would also be upgraded to global standards. (RKS)

Fibre2Fashion News Desk – India