Home / Knowledge / News / Textiles / Maharashtra's 'Advantage Vidarbha' attracts textile firms
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


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Smita Murarka
Amanté

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

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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