Home / Knowledge / News / Textiles / New policy to boost Maharashtra textile industry
New policy to boost Maharashtra textile industry
15
Feb '16
Raymond signing MoU with Maharashtra govt at Make in India week
Raymond signing MoU with Maharashtra govt at Make in India week
There is finally some good news for Maharashtra's cotton sector. The new textile policy unveiled on Sunday which promises capital grants of up to 25 to 30 per cent to self-financed investors is aimed at giving better payment to three lakh farmers in the state's cotton belt.

The new policy unveiled at the Make in India Week in Mumbai is based on the theme 'Cotton to Cloth, Farm to Fashion'. Currently, only textile units which had taken bank loans were eligible for capital subsidy.

Now, self-financed textile units in Vidarbha, Marathwada, and North Maharashtra regions that produce the bulk of the state's cotton, will also be eligible for 25-30 per cent capital grants from the state.

Textiles minister Chandrakant Patil announced the policy to revive the sector at a panel discussion on opportunities in textiles in Maharashtra at the Make in India week.

Chief Minister Devendra Fadnavis said that his government state has laid stress on investments to strengthen the linkages that would take into account the farmer who produces cotton to spinning of yarn to ready-made garments in industrial units, complete with innovative design and marketing.

Patil underlined the huge potential of textile mills in the state and said that Maharashtra needs over 250 spinning, 200 processing and 2,000 garment units in order to utilise the cotton produced in the state. He invited investors to invest in the state which would benefit them as well as farmers and youth.

Dilip Jiwrajka, Managing Director of Alok Industries, which operates four textile units in the Maharashtra, welcomed the initiative. He said textile units in the state should also get cheaper electricity like in neighbouring Gujarat.

R.K. Dalmiya, chairman of the Cotton Textiles Export Promotion Council, said the initiative will give Maharashtra a competitive edge over Tamil Nadu which has a heavy concentration of textile mills.

Maharashtra's Industry minister Subhash Desai said the Maharashtra Industrial Development Corporation (MIDC) was setting up 10 integrated textile parks in the state. He said the government is targeting an investment of Rs 40,000 crore for these parks in the cotton producing regions of Vidarbha, Marathwada and North Maharashtra which would generate more than 11 lakh jobs.

The state government has reduced the premium on MIDC land to encourage investors to invest in these parks, Desai said. One of these parks has come up at Nandgaon Peth in Amravati district in Vidarbha where Raymond Industries has signed an agreement for an investment of Rs 1400 crore. (SH)

 

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pyrates Smart Fabrics

Textiles | On 16th Jul 2018

Spain's Pyrates Smart Fabrics targets Asia, S America

Spain-based Pyrates Smart Fabrics, whose major markets are northern...

Bangladesh to modernise 3 jute factories to boost sector

Textiles | On 16th Jul 2018

Bangladesh to modernise 3 jute factories to boost sector

The executive committee of Bangladesh’s National Economic Council...

Courtesy: Asda

Apparel/Garments | On 16th Jul 2018

J Sainsbury agrees to £3.5 bn financing for Asda merger

J Sainsbury plc has agreed for a financing package of £3.5 billion in ...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Top executives
Textile industry

It will take some time for the people to change their buying choices

Suresh P Bagrecha

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

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

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

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


July 2018

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

news category


Related Categories:

Advanced Search