Home / Knowledge / News / Textiles / Karnataka govt releases New Textile Policy document
Karnataka govt releases New Textile Policy document
Nov '13
The government of the South Indian state of Karnataka has officially released the New Textile Policy 2013-18 document, which envisages attracting investment of Rs. 100 billion and in the process creating about 500,000 new employment opportunities.
The new policy, approved by the state Cabinet last month, replaces the Suvarna Vastra Neeti (2008-13) policy.
Announcing the new policy, Textile and Ports Minister Baburao Chinchansur said the state has been categorized into three zones under the policy. Zone 1 includes backward districts with potential for textile activities, and these districts will get maximum benefits. 
Zone 2 includes areas with very little or no textile activities and these areas would receive marginally lesser benefits, while all areas falling under Bangalore urban district, except Ankeal taluk, would fall under Zone 3, which would not receive any benefits under the new policy, the Minister told presspersons.
One of the features of the new policy, which aims at making Karnataka a preferred textile destination, is that small and medium investors would get interest subsidy for projects costing up to Rs. 990 million, as part of the amount sanctioned for credit-linked capital subsidy.
For units investing Rs. 100 million to Rs. 990 million, the credit-linked capital subsidy would be in the range of 15 percent to 20 percent with an upper limit of Rs. 60 million. For micro, small and medium enterprises (MSMEs) with investment up to Rs. 100 million, the credit-linked subsidy would also be in the range of 15 percent to 20 percent, but with a ceiling of Rs. 20 million.
Entrepreneurs belonging to Scheduled Castes and Scheduled Tribes, as well as those belonging to ex-servicemen, minority, women and physically challenged categories would be provided an additional subsidy, the Minister said.
The textile policy also has a special credit-linked capital subsidy plan for integrated textile units.
In addition, a subsidy of 15 percent to 20 percent with upper ceiling of Rs. 10 million would be provided for modernization of existing units, while cooperative spinning mills would be given a subsidy of 20 percent with upper limit of Rs. 20 million for revival and upgradation.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhishek Ganguly
Puma India

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

Cindy McNaull

We have broad range of options in durable fabrics

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


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