Industry-friendly policies make Gujarat top investment destination: CM

30 Dec '21

2 min read

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Gujarat has turned the best destination for investment due to industry-friendly policies by the state, according to chief minister Bhupendra Patel, who recently said the state has made significant contribution to the textile industry through Prime Minister Narendra Modi's 5-F formula: farm-to fibre, fibre-to-fabric, fabric-to-fashion, fashion-to-foreign.

He said the state has provided several incentives for technology upgradation, skill enhancement and development, and for promoting textile parks and clusters in its textile policy.

He was speaking at an event on 'Weaving Growth for Textiles', organised as part of the Vibrant Gujarat Global Summit (VGGS) 2022.

"Gujarat produces 37 per cent of the country's total yarn and is known as the country's textile capital. This industry accounts for 13 per cent of India's total exports. Gujarat has also added a textile course to its 25 ITIs, with arrangements made not only for large-scale industries but also for developing small and medium scale industries," he was quoted as saying by a news agency.

The prime minister has announced the construction of seven textile parks in India at a cost of ₹4,500 crore, union minister of state for textiles Dharshana Jardosh said. The performance-linked incentive scheme for textiles scheme will offer huge benefits to readymade garments, man-made fibres and technical fibre sectors, she added.

Fibre2Fashion News Desk (DS)

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