Home / Knowledge / News / Textiles / Maharashtra textile sector gets Rs 100bn proposals
Maharashtra textile sector gets Rs 100bn proposals
17
Jan '13
The new textile policy of Maharashtra is meeting great response and has already attracted investment proposals of Rs. 100 billion, Textiles Minister of the state Mohd. Arif Naseem Khan told PTI, Business Standard reported.
 
The Minister said most of the investment proposals have been received from investors from other states, who are interested in cashing on the several incentives extended by Maharashtra government under its new textile policy.
 
The Minister said the new policy is expected to attract investments worth Rs. 400 billion and generate around 1.1 million jobs in the textile processing sector.
 
He said besides other perks, the policy also offers 10 percent subsidy to units coming up in the cotton belt of Marathwada, Khandesh and Vidharbha, where several suicide cases of farmers have been reported in the last few years.
 
The idea is to boost local consumption of cotton by at least one million bales (1 bale = 170 kg) to three million bales a year, out of the nearly nine million bales of cotton harvested in Marathwada, Khandesh and Vidarbha regions.
 
The new investments are expected to result in an increased demand of cotton, which would help them avert any reoccurrence of suicide incidences in future, he said.
 
The Minister informed that the government has received 14 proposals for setting up spinning units with an investment of Rs. 6.66 billion and three composite spinning and weaving mills involving an investment of Rs. 7 billion in Vidarbha region.
 
He added that the investors are still in the process of finalizing project sites and other infrastructure facilities and it may take a couple of years for the new textile units to become operational. However, once operational, these units will generate around 7,000 new employment opportunities, he said.
 

Fibre2fashion News Desk - India


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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