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

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

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

Robert Brunner
Devereux

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

Madhu Jain
Madhu Jain

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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