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

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Marcel Alberts
Eurofibers

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Prathyusha Garimella
Prathyusha Garimella

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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