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

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

TEA urges Tamil Nadu govt to announce textile policy

The Tiruppur Exporters' Association (TEA) has urged the state...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kai Poehler
Voith Paper GmbH & Co. KG

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X