74 textile parks to draw Rs 30,000 cr investments

19 Feb '16

2 min read

Ahead of the new textile policy, Textiles Minister Santosh Gangwar has said that the government expects an investment of Rs 30,000 crore in 74 textile parks that would be set up in the country.

"Our government has given approval to 24 Textile Parks in the last one year, the rest were cleared by the previous government. So in total we are setting up 74 textile parks, which will attract an investment of Rs 30,000 crore," Gangwar told reporters on the concluding day of the Make in India Week in Mumbai on Thursday.

He also said that the government plans to launch the new textile policy by April 2016 with a focus on manufacturing value-added products and export-oriented goods to boost the economy.

Gangwar ruled out the government selling land of the National Textile Corporation (NTC) in different cities. Instead, the Textiles Ministry is would like to start other non-polluting industry on these land, he said.

Textile Secretary Rashmi Verma who also spoke on the occasion, said the Union Budget will contain the Textiles Ministry's proposal to set up two mega textile parks in coastal areas. (SH)

Fibre2Fashion News Desk – India

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