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Maharashtra's 'Advantage Vidarbha' attracts textile firms
27
Jun '13
The ‘Advantage Vidarbha’ initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, especially textile firms, to the state’s backward region of Vidarbha, has started paying dividends.
 
Around 26 projects have already been launched in the region following the initiative, and Raymond Group, one of India’s leading integrated textile players, is now going ahead with setting up of a project.
 
As the company announced its expansion plans during ‘Advantage Vidarbha’, the state government allocated 25 acres of land to Raymond in Yavatmal district of Vidarbha region early this month, Maharashtra’s Minister for Textiles Mohd. Arif Naseem Khan told PTI, Economic Times reported.
 
Already having a wider presence in the district, Raymond plans to invest around three to four billion rupees to further expand in the region, the Minister said.
 
The Minister also stated that the Rs. 30 billion investment likely to flow in the state’s textile industry from the 26 projects would provide a major boost to the region. While creating around 3,500 fresh employment opportunities, it would also help cotton producers to earn better returns for their produce, he added.
 
Of the 26 new projects, 7 came about during ‘Advantage Vidarbha’, while other 19 materialized from the new Textile Policy introduced two years back by the state government. 
 
Prior to introduction of the policy, hardly 25 percent of the cotton grown in the state was consumed domestically, as industrial units lacked infrastructure to process raw cotton. 
 
However, the two initiatives are drawing several investors to the region and besides Yavatmal, investors are also showing great interest in Amravati, due to Butibori-based industrial estate, Mr. Khan said.
 

Fibre2fashion News Desk - India


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