Home / Knowledge / News / Textiles / Jharkhand signs MoU with Orient Craft for textile parks
Jharkhand signs MoU with Orient Craft for textile parks
21
Sep '16
The Jharkhand state government has signed a memorandum of understanding (MoU) with Orient Craft Limited for construction of two textile parks at a cost of Rs 1,500 crore on a 140-acre land. The MoU was signed during the launch of a road show named 'Momentum Jharkhand' in Mumbai to promote Jharkhand's global investors summit scheduled for February.

The MoU was signed after the state government released a textile policy which proposes capital investment subsidy of 20 per cent up to Rs 50 crore, VAT subsidy of 100 per cent for seven years followed by 40 per cent for the next three years, and 100 per cent reimbursement of stamp duty.

The new policy also proposes setting up of six training centres to provide locals with jobs in the textile sector, chief minister Raghubar Das said.

He informed that the MoU with Orient Craft would result in creation of 15,000 jobs.

Stating that his government is investor-friendly with a focus on single-window clearance, Das said, “The approvals and clearances for the establishment and operations of the industries will be through an online portal with minimum human interface. The state creates a system which enables the investor to approach a single designated authority and seek minimum number of clearances and approvals to set up and operationalise an industry. As a result, Jharkhand ranked in top 3 in ease of doing business in India.”

The new industrial and investment promotion policy focuses on creating a conducive ecosystem which makes industries in Jharkhand innovative and globally competitive, Das said. He explained that the government does not face any land acquisition problem because it already has a land bank of 134,000 hectares. “Land belonging to various government departments and corporations has been pooled into one corporation (Jharkhand Industrial Area Development Authority), which allots land to the investor,” he said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search