Karnataka invites investment in textile & apparel sector
A Road Show was organized by the Department of Handlooms & Textile, Government of Karnataka jointly with The Southern India Mills' Association (SIMA), Federation of Indian Chambers of Commerce and Industry (FICCI), ICCI and Tirupur Exporters' Association (TEA) on 20th April, 2012 at Hotel Le Meridien, Coimbatore as a prelude to the second edition of Global Investors Meeting scheduled on June 7-8, 2012 at Bangalore. The purpose of the Road Show was to showcase the advantages for industries investing in Karnataka.
The Government of Karnataka (GoK) also has a very comprehensive Textile Policy namely Suvarna Vastra Neethi to encourage investment in textile & apparel industry towards new projects in the state.
The Policy envisages the extension of financial support, by the State Government, through the Department of Handlooms & Textiles (DH&T), for all kind of investments in the state which classify under the Textile and Apparel activity which includes technical textiles and textiles machinery manufacturing industries.
Mr. R. Varthur Prakash, Hon'ble Minister for Textiles, Government of Karnataka inaugurated the Road Show. During the inaugural address, the Hon'ble Minister informed that the Karnataka Government brought out innovative government schemes to attract investment in textile sector in the State.
He has invited the entrepreneurs in Tamilnadu to come to Karnataka and invest in textile sector. He said that there was no power cut in the State and availability of labour was in plenty. He pointed out that Karnataka did not have any pollution related issues for processing sector.
He further informed that the Policy has been framed in such a way understanding the requirements of textile entrepreneurs of Tamilnadu. The Hon'ble Minister appealed to the investors to make use of the opportunity and make investments in Karnataka.
While presenting the Policy Initiatives of the Government on textile sector, Mr. D.A. Venkatesh, IFS, Commissioner for Textile Development & Director, Handlooms and Textiles, Government of Karnataka narrated the various schemes introduced by the Government and invited the textile entrepreneurs from Tamilnadu to invest in Karnakata and said that the Handlooms & Textiles Department would extend the necessary help for such investors investing in textile sector.
He further detailed the incentives offered to investors as given below:
- Investor friendly Government- Simplified procedures, Fast Track approvals through Single Window Mechanism, and escort service from Karnataka Udyog Mitra
- Good connectivity and good logistic Support for investments.
- Good Infrastructure- availability of land, quality power and water.
- Excellent telecommunication network and optical fiber connectivity thought the state
- Highly skilled manpower base- Large number of engineering colleges and Technical Institutions.
- Among the fastest growing and largest markets in India
- One of the most competitive and industry friendly policies in the country