Maharashtra's new textile policy gets good response

09 Aug '12

2 min read

The new textile policy introduced by the Government of Maharashtra from April this year has received encouraging response, according to an official of the Ministry of Textiles.

“We have received good response from the textile industry under the new textile policy of the state government,” Mr. Ramesh Ade, Under Secretary, Ministry of Textiles, Maharashtra, told Fibre2fashion.

“The Maharashtra government’s textile policy is linked to the Central Government’s Textile Upgradation Fund Scheme (TUFS). So, the proposals that are sanctioned under TUFS are automatically eligible under our policy as well. So far, we have received 224 sanctioned projects with an investment of Rs. 22 billion,” he informs.

The new projects would generate 15,950 direct employment opportunities in the state, according to Mr. Ade.

Talking about the sectors and size of new projects, he says, “The investments are in all segments of the textile industry, and include projects for setting up new weaving, powerloom, and cotton spinning and ginning units.”

“We have received enquiries for some mega projects as well. The Jindal Group has already set up a project for Technical Textiles worth Rs. 4 billion near Igatpuri. They wish to further invest in Maharashtra,” he reveals.

“Cheema Spintex Ltd. of Chandigarh is also looking for space spanning around 400-500 acres to set up a mega project. Another company Indo Count Industries Ltd. has also shown interest in investing in Maharashtra,” he adds.

“Our target is to have investments worth Rs. 400 billion over the next five years,” he mentions.

Fibre2fashion News Desk - India

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