Rajasthan govt plans special package for textile industry

04 Jul '13

1 min read

The government of Rajasthan, a state in western India, would extend a special package for the textile industry.

A Cabinet meeting presided by Chief Minister Ashok Gehlot took the decision to come out with a special package for the textile industry, following instances of textile units from Bhilwara relocating to Gujarat and Maharashtra.

The new textile policy would be adopted under the “Special Customised Package 2013” approved by the Cabinet. The package is aimed at attracting an investment of Rs. 100 billion over the next seven years and generating employment opportunities for about 50,000 people.

The package will be applicable to both new textile enterprises as well as to existing textile units that plan to invest in modernization, expansion or diversification.

The sops to the textile industry would include VAT reimbursement, subsidy and interest-waiver.

The Cabinet meeting also cleared setting up a Petroleum University in the state on public-private partnership (PPP) basis, in order to make available manpower and technical know-how for the upcoming petrochemical complex at Pachpadra in Barmer district.

Fibre2fashion News Desk - India

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