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Gujarat to be investor's paradise with new textile policy
28
Mar '09
The Government of Gujarat has recently introduced the industrial policy of 2009. From amongst the many sectoral policies introduced by the state, the textile policy has received very close attention from the state government.

Gujarat has always been in the forefront of industrial development in the state. In recently revealed figures, Gujarat has come out toppers across all states of India with a growth rate of 13 percent against a national growth of 9 percent in 2007-08.

Vibrant Gujarat 2009, which brought together business leaders, investors, corporations, thought leaders, policy and opinion makers on one platform concluded with 8,500 MOU's being signed for a mid boggling investment of US $241 billion.

The textile industry in Gujarat has its unique position as a self-reliant industry and is omnipresent across the whole value chain, from the production of raw materials to fabric and garment and is a major contributor to the economic growth of Gujarat.

Gujarat is a leading textile state in the country. The state contributes over 33 percent of mill-made fabric and 25 percent of power-loom fabric in the country and also accounts for about 21 percent of total employment in the industrial sector of the state.

Considering the huge potential in this sector, both in terms of investment and employment generation, Government of Gujarat intends to promote entire textile value chain from farm to fibre to fabric to fashion and foreign trade.

Keeping in this mind, under the new industrial policy for 2009, the state has come out with very favourable policy for investors to invest in the textile and garment industry in Gujarat, which also has the lowest labour strife's in the country.

Click here to read the complete textile policy 2009.

Fibre2fashion News Desk - India


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