The state of Maharashtra, for the first time, will have a textile policy to give a fillip to state's textile industry. It aims at improving private investments in the industry through rebates and incentive expansion, and will be finalized within a month.
Major part of the state's cotton output is sent to neighboring states, particularly to Gujarat, since 1980, when a number of textile mills in the state, downed their shutters. But, now the state wishes to conduct the whole cotton textile value chain process in the state itself, which it has termed as 'cotton to cloth', approach.
Along with cotton; technical textiles or manmade fibres would also be encouraged through new policy. Many exercises to formulate new textile policy were undertaken in the past two years. All those are now on the verge of finalization.
Recently, nine textile clusters have been approved in the state, of which, three are in Kolhapur and one each in Baramati, Hingoli, Thane, Dhule, Sangli and Latur. Incentives like D-Plus, tax rebates under various departments including reduced electric rates would be provided to the industries by the Ministry of Textiles.
Moreover, the government aims to frame a single window clearance system in order to boost private sector investment.
Fibre2fashion News Desk - India
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