The Cabinet Committee on Economic Affairs gave its approval to the following:
(i) The Scheme for Integrated Textiles Parks (SITP) will be continued in the 11th Five Year Plan.
(ii) Sanctioning of 10 new parks under SITP
(iii) To continue the existing norms for release of Government support.
Development of additional textiles parks will facilitate additional investment, employment generation and increase in textile production.
As per the target for the 10th Five year Plan, 30 Textiles Projects have been approved with an estimated project cost of Rs.2893.42 crore of which GOI assistance under the scheme would be Rs.1054.76 crore.
Statewise- sanction of projects is Andhra Pradesh (4), Gujarat (7), Karnataka (1), Maharashtra (6), Punjab (1), Rajasthan (4), Tamil Nadu (6) and West Bengal (1).
The estimated investment in these parks is Rs.15,258 crore and estimated annual production is Rs.24,000 crore. Estimated employment generation is more than 5.45 lakh. These parks are expected to be operational by March 2009.
Press Information Bureau Government of India
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