Home / Knowledge / News / Textiles / Maharashtra's new textile policy attracts 1,331 projects
Maharashtra's new textile policy attracts 1,331 projects
Mar '14
The new textile policy, unveiled by the Maharashtra government about one-and-half years ago, has so far attracted 1,331 projects amounting to investment of Rs. 120 billion, state Textile Minister Mohammaded Arif (Naseem) Khan has said, reports Business Standard quoting PTI.
Few of the projects are already in the pipeline, Mr. Khan said at a press conference in Mumbai. He said that Rs. 510 million capital subsidy has been given to ten textile parks and another Rs. 160 million interest subsidy has been disbursed to 50 projects.
According to the Minister, the delinking of textile sector investment in the state from the Central Government’s Technology Upgradation Fund Scheme (TUFS) has helped the state receive Rs. 120 billion investment proposals despite global economic meltdown.
He was optimistic that the state would be able to cross the target of attracting Rs. 400 billion investment earlier than the five-year time period envisaged for the same.
Explaining the benefit of delinking the state textile policy from TUFS, the Minister said it helps investors as do not have to wait to receive the Unique Identification (UID) number, which is mandatory under TUFS, and they can directly submit their proposals to the state government.
Under the new textile policy, the Maharashtra state government provides 10 percent capital subsidy for projects coming up in the cotton growing regions of Marathwada, Vidarbha and North Maharashtra. There is also a provision to provide 7 percent interest subsidy for all new projects to be set up in the state, which includes spinning mills, ginneries, pressing and processing units and garment manufacturing units. A six percent interest subsidy is provided for technical textile and composite units.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

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

Eamonn Tighe
Nature Works LLC

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

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

Karan Arora
Karan Arora

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

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

January 2017

January 2017

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


Browse Our Archives


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