Welcoming the Uttar Pradesh government’s draft textile policy, the Federation of Indian Chambers of Commerce and Industry (FICCI) has said the draft includes many of the chamber’s suggestions, such as open access for existing as well as new units, capital subsidy for new and existing units over and above the technology upgradation fund scheme (TUFS).
All this would help in attracting investments in the sector in value added segments and generate employment, according to LK Jhunjhunwala, chairman of FICCI UP State Council.Welcoming the Uttar Pradesh government's draft textile policy, the Federation of Indian Chambers of Commerce and Industry (FICCI) has said the draft includes many of the chamber's suggestions, such as open access for existing as well as new units, capital subsidy for new and existing units over and above the technology upgradation fund scheme (TUFS).#
Jhunjhunwala and SK Khandelia, co-chairman, FICCI textiles committee recently attended a meeting called by the state chief minister Yogi Adityanath to discuss the draft textile policy, said a press release from the industry chamber.
Some of the other suggestions by FICCI which the state government may like to consider include higher subsidy on electricity tariff, Rs 20 crore subsidy for each cluster or park in addition to the central government’s subsidy of Rs 40 crore, making raw materials like cotton available to the sector at competitive rates by setting off the high freight cost, a detailed plan for revival of sick textile units and a dedicated scheme for supporting skill development in garment making, processing and technical textiles, the press release added. (DS)
Fibre2Fashion News Desk – India
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