Home / Knowledge / News / Textiles / MP govt announces special concessions for textile projects
MP govt announces special concessions for textile projects
Dec '12
As a major step to draw more investments in the textile sector of the state, Madhya Pradesh government has announced a special concessions package for textile projects involving a minimum investment of Rs. 250 million.
As reported in Times of India, the Cabinet led by Chief Minister Shivraj Singh Chouhan nodded on providing an interest subsidy of five percent for five years to textile mills focusing on fabric manufacturing, and a subsidy of seven percent to composite textile mills projects with a consolidated production network right from processing cotton, spinning, weaving to production of finished apparels.
Minister for Industries and Commerce Kailash Vijayavargiya informed that under the Industrial Investment Promotion Scheme, ginning mills would be given an amount equal to the amount paid by them as VAT or central sales tax on inter-state sale of finished goods.
Likewise, fabric producing units would get assistance equal to VAT paid while buying raw inputs, and VAT and central sales tax paid on sale of finished goods.
The Minister said that over the past three years, the textile industry of the state has drawn investments worth Rs. 70 billion, which has created 20,000 new employment opportunities. He added that they aim to push this investment level to Rs. 200 billion.
He said that presently around 70 percent of the raw cotton manufactured in the state is transported to other states. If more textile mills are set up in the state, it would relieve farmers of finding buyers in other states like Gujarat or Maharashtra. 
The sops would make Madhya Pradesh a more preferred destination for textile entrepreneurs than Gujarat or Maharashtra, government spokesperson Narottam Mishra said.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Johan Berlin
InvestKonsult Sweden AB

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

December 2016

December 2016

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


Browse Our Archives


Advanced Search