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 sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

APTMA calls for implementation of PM’s export package

Textiles | On 21st Oct 2017

APTMA calls for implementation of PM’s export package

The All Pakistan Textiles Mills Association (APTMA) has called for...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

C Dhandayuthapani

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

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search