Karnataka to soon announce Textile Policy 2013-18

22 Dec '12

2 min read

Looking to draw maximum investment in the state’s textile sector during the Global Investors’ Meet slated to be held in 2014, Karnataka state government plans to release Textile Policy 2013-18 early next year, the State Chief Secretary SV Ranganath said.

Speaking at the Industry Meet of Technotex 2012 in Bangalore, he said the policy would offer several incentives to textile entrepreneurs in the state.

Mr. Ranganath said the new policy would be an advanced edition of the existing Textile Policy 2008-13 and would focus on enhancing the sector’s competitiveness.

The existing policy, which is to end in 2013, has so far drawn investments worth around Rs. 50 billion in the sector, he noted.

Karnataka’s Textile Commissioner DA Venkatesh said consultations would be held with all industry stakeholders prior to formulation of the new policy.

He also requisitioned Central Government’s intervention in granting capital subsidy for setting up textile industries in the state and for increasing import duty to cut raw-material imports.

Highlighting other initiatives of the state government to boost the sector, Union Ministry of Textiles Secretary Kiran Dhingra said the Ministry of Textiles is to co-host Technotex 2013 with the Federation of Indian Chambers of Commerce and Industry (FICCI).

The expo would further a platform to the technical textile industry of the country to exhibit its potential, strength and prospects before international textile community.

Noting that the state houses 72 registered technical textiles producing firms, Mr. Ranganath said the various textile products and related technology in the state would be showcased during the expo scheduled to be held at Pragati Maidan in New Delhi from January 17-19, 2013.

Mumbai hosted the first edition of Technotex in 2011.

Fibre2fashion News Desk - India

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