Home / Knowledge / News / Textiles / Karnataka Cabinet approves Textile Policy 2013-18
Karnataka Cabinet approves Textile Policy 2013-18
21
Oct '13
The Cabinet of the southern Indian state of Karnataka has approved the new Textile Policy 2013-18, prepared in May this year after studying the textile policies of the neighbouring states and on the basis of the growth prospects of the textile sector in the state.
 
The new policy envisages attracting an investment of Rs. 10 billion in the state’s textile sector over the next five years.
 
The new policy is expected to generate more employment opportunities, especially in the garment sector, Minister for Law and Parliamentary Affairs TB Jayachandra told reporters after the Cabinet meeting.
 
The policy would also give a boost to the spinning mills, as it includes a package for their revival, the Minister said.
 
Last month, Minister for Textiles and Ports Baburao Chinchansur, said Karnataka received about Rs. 55 billion investment in the textile sector in the last five years, which resulted in the creation of about 250,000 new jobs.
 
According to the Minister, the state accounts for around 12 percent of all textiles and apparel exported from India.
 
Earlier this month, the Indian Government granted a Rs. 10 billion special textile package to Karnataka for the revival of nine spinning mills in the region and converting cooperative loans given to beneficiaries into equity shares.
 
Out of the total amount, Rs. 100 million would be paid to state run banks towards dues raised to build the integrated textile park at Doddaballapur, near Bangalore, as well as to set up textile parks and skill development centers across the state.
 
A part of the fund would be used to increase the minimum wage of weavers in the region, as well as to pay arrears incentives and subsidies to investors.
 
Using funds from the special package, the Karnataka state Textiles Ministry is also planning to set up an international textile park at Yadgir and a skill development centre at Gulbarga, in the northeast region of the state.

Fibre2fashion News Desk - India

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search