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New textile parks to be set up at the earliest: Gangwar
01
Sep '14
The Ministry of Textiles, Government of India, has received several applications in connection to new textile parks, which would be set up at the earliest, Minister of State for Textiles Santosh Kumar Gangwar has said.
 
Speaking at an event to mark the 25th anniversary of Tirupur Exporters’ Association (TEA), Mr. Gangwar said a scheme for setting up 25 new textile parks was announced by Finance Minister Arun Jaitley in Budget 2014-15.
 
The Minister also told the audience that the Union Government would hold a meeting of textile ministers of all states in September-end, to fine-tune the draft of the new textile policy, which is expected to be announced soon.
 
He also said that a textile venture capital fund would be created with an initial capital of Rs. 350 million. He informed that the Government is providing a subsidy of Rs. 700 million for setting up a textile processing park, and for this initiative it has set aside a sum of Rs. 5 billion.
 
Mr. A Shaktivel, TEA president said the Government should extend the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) to the garment sector.
 
Apparel exports from Tirupur have grown from mere Rs. 150 million in 1985 and Rs. 2.7 billion in 1990 to about Rs. 180 billion in 2013-14, Mr. Shaktivel said.
 

Fibre2fashion News Desk - India

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