Home / Knowledge / News / Textiles / Maharashtra's textile policy attracts Rs 24bn investment
Maharashtra's textile policy attracts Rs 24bn investment
Sep '12
The western Indian state of Maharashtra has attracted investments totaling Rs. 24 billion under its new textile policy announced earlier this year, state Textiles Minister Naseem Khan has said.
Eight textile processing companies, including Ginni International Ltd., Jaideep Group of Industries, Oswal Spinning and Weaving Mills Ltd, Shyam Indospin Ltd. and Jindal Poly Films Ltd., have submitted their Letters of Intent to invest in the cotton-producing regions of the state, the Minister said.
An additional about Rs. 40 billion worth of investments are likely to come the state’s way after these companies set up their manufacturing units in Vidarbha, Marathwada and Khandesh regions, he added.
The Minister felt that setting up of ginning and pressing units would generate employment and stop farmer suicides in the region as farmers would get a better price for their crop.
Maharashtra formulated a new textile policy in March this year with an aim to create 1.2 million new job opportunities in the cotton growing regions of the state. Under the policy, new textile units would get 12.5 percent interest subsidy and 10 percent subsidy on their capital.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Jun 2017

Nan Ya files trade petition in US against Korea & Taiwan

Nan Ya Plastics Corporation, America, a US synthetic fibre producer,...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Interviews View All

Abhishek Samdaria

GST will certainly reduce a lot of paperwork in future

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Suresh Patel
Sidwin Fabric

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Tony Ward
Tony Ward

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


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