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Indian Textiles Ministry okays 13 textile parks
19
Sep '14
The Ministry of Textiles, Government of India, has approved setting up of 13 textile parks, which will involve a minimum investment of Rs. 1 billion each.
 
Speaking at a book-launching event in New Delhi, Minister of State (Independent Charge) for Textiles Santosh Kumar Gangwar said he had approved the setting up of 13 textile parks. “We will consider investment proposals of minimum Rs. 1 billion for the parks, and subsidy amount of Rs. 400 million each will be provided by the Ministry,” he said.
 
A textile industrial park set up with an investment of Rs. 1 billion would be able to create employment opportunities for 2,500 to 3,000 people, as the textile industry generates maximum employment after agriculture, the Minister said.
 
Mr. Gangwar informed that he had called a meeting of the Textile Ministers of states next week, to seek their inputs on the new improved Textiles Policy and other related matters.
 
One of the key objectives of the new Textiles Policy is to increase India’s global market share to 12 percent from the current 4 percent over the next ten years.
 
The existing National Textile Policy was framed in 2000, and since then India’s textile industry has undergone several changes. The new Policy would also address concerns related to adequate skilled workforce, labour reforms, attracting investments in the textile sector, and also provide a future roadmap for the textile and apparel industry.
 
The new policy is also expected to include recommendations for creating world class infrastructure for Textile Parks, for developing and modernizing the powerloom and handloom sectors, for addressing environment concerns, and for assessing the credit requirements of the textile sector. (RKS)
 

Fibre2fashion News Desk - India


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