Home / Knowledge / News / Textiles / Gujarat announces new Textile Policy 2012
Gujarat announces new Textile Policy 2012
05
Sep '12
The state of Gujarat in India today announced a new Textile Policy 2012 - ‘Navi Gujarat Vastraniti’ which will help cotton farmers to get better price realizations and also infuse new life in to the textile industry of the state.

The new Textile Policy is expected to attract investment of over Rs.20,000 crore, creating new employment opportunities for over 2.5 million people, 50 percent of them being rural women, during the next five years period.

The objective of the policy is to have an integrated approach to strengthen the value chain - “Farm to Fibre to Fabric to Fashion to Foreign” (5 Fs), which will enhance sustainable growth of farmers and industry.
 
The policy envisages starting cotton spinning and weaving parks around cotton growing areas and will provide support for energy and water conservation and environmental compliance.
 
Among the slew of incentives, the policy will provide interest subsidy for value-addition chain from ginning to spinning, weaving, processing, garment manufacturing and technology up-gradation.
 
It will refund VAT on expansion of existing and new units in spinning and readymade garments; provide power tariff concession for new cotton spinning and weaving units; give financial assistance to Skill Development Centre’s for textile industry and offer financial assistance for technology acquisition for value chain.
 
For cotton ginning and spinning, the new policy will enhance growth of cotton farmers and ginners, by way of better price realization and to enable them to withstand uncertainty due to price fluctuation, nationally and internationally and encouragement will be provided to establish new cotton spinning activities to strengthen the value chain. Among incentives, it will offer –
 
- Interest subsidy of 5 percent, without ceiling for the period of five years on new plant & machinery for Ginning & Processing;
- Interest subsidy of 7 percent on new plant & machinery for cotton spinning, as well as for second hand imported cotton spinning machinery with certain conditions, without ceiling for the period of 5 years;
- Power tariff concession on new investment for cotton spinning at the rate of Re.1 per unit for 5 year period;
- Minimum 150-acre land, stamp duty exemption to developers and units, and assistance up to 50 per cent with maximum ceiling of Rs.30-crore for  common infrastructure for Cotton Spinning Park with or without Weaving;

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Marcel Alberts
Eurofibers

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search