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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
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.
The 'Advantage Vidarbha' initiative of the government of Maharashtra, a state in western part of India, aimed at drawing prospective investors, #
Fibre2fashion News Desk - India