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Indian Govt sanctions 21 more Textile Parks
28 Oct '11
3 min read
Lead Investors heading the Special Purpose Vehicles of the above listed Textiles Parks and the Project Management Consultant firms would be invited by Government in the coming days to enter into MOUs for implementing the projects.
Government seeks to ensure timely implementation of the sanctioned projects and changes to avoid cost and time overruns have been incorporated into the MOUs to be entered into by Government under the scheme.
Commerce, Industry and Textiles Minister said that given the considerable demand for Textiles Parks in the country and given the success of the Scheme in the 11th Five Year Plan, Textiles Ministry would be seeking a higher allocation under the 12th Five Year Plan.
It may be highlighted that of the 40 textiles parks sanctioned under the 11th Five Year Plan, 24 Textiles Parks have started operations and have attracted investments of Rs. 18,880 crores, with a Government subsidy of Rs. 1,420 crores.
Government seeks to ensure timely implementation of the sanctioned projects and changes to avoid cost and time overruns have been incorporated into the MOUs to be entered into by Government under the scheme.
Commerce, Industry and Textiles Minister said that given the considerable demand for Textiles Parks in the country and given the success of the Scheme in the 11th Five Year Plan, Textiles Ministry would be seeking a higher allocation under the 12th Five Year Plan.
It may be highlighted that of the 40 textiles parks sanctioned under the 11th Five Year Plan, 24 Textiles Parks have started operations and have attracted investments of Rs. 18,880 crores, with a Government subsidy of Rs. 1,420 crores.
Fibre2fashion News Desk - India
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