Home / Knowledge / News / Textiles / Gujarat announces support scheme for textile value chain

Gujarat announces support scheme for textile value chain

11
Jan '19
Gujarat announces support scheme for textile value chain
The Gujarat state government has announced a support scheme spanning the entire textile value chain, with incentives like subsidy in interests and power tariff and assistance in technology upgradation, environmental compliance cost and for textile parks. The scheme will be implemented starting September 4 last year and continue till December 31, 2023.

Named ‘Scheme for Assistance to Strengthen Specific Sectors in the Textile Value Chain’, it covers under weaving, knitting, dyeing, printing, machine carpeting, technical textile, made-ups, composite units and other activities like embroidery, winding, sizing twisting and crimping.

It aims at creating local employment and requires at least 85 per cent of the total manpower of an enterprise and at least 60 per cent of supervisory and managerial staff to be domiciled in Gujarat, Indian newspapers reported quoting an official statement.

The scheme offers financial assistance through credit-linked interest subsidy of 6 per cent for MSME and 4-6 per cent for large enterprises with an upper ceiling of ₹20 crore per annum. A separate scheme for subsidy in power tariff allows up to ₹3 per unit for weaving and ₹2 per unit for other eligible segments.

It offers assistance in energy compliance and conservation of water and environment, covering all existing units in operation for more than three years. The scheme provides 20 per cent assistance on the cost of machinery with a ceiling of ₹30 lakh and 50 per cent assistance for audit fees with a limit of ₹1 lakh. The benefits can be availed of once in two years during the scheme period.

The scheme offers a one-time financial assistance of up to 50 per cent of the cost with a limit of ₹25 lakh for technology upgradation and modernisation in textile value chain.

The state has also extended support for setting up textile parks with financial assistance of up to 25 per cent of capital expenditure on common facilities and infrastructure with a limit of ₹15 crore. The park will receive financial assistance for hostel facilities within its premises with minimum 100 workers domiciled in Gujarat.

The developer of the park will get complete reimbursement of stamp duty paid on purchase of land.

The Gujarat Textile Policy 2012 was operational till September 3 last year. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

US holiday retail sales grew 2.9% to $707.5 bn in 2018

Apparel/Garments | On 19th Feb 2019

US holiday retail sales grew 2.9% to $707.5 bn in 2018

Holiday retail sales during 2018 in US grew a lower-than-expected 2.9 ...

Courtesy: Medio banca

Fashion | On 19th Feb 2019

6.6% average annual sales growth in Italy's fashion sector

The Italian fashion sector accounted for 1.3 per cent of its economy...

Boosting yarn production can revitalise Bangla silk sector

Textiles | On 19th Feb 2019

Boosting yarn production can revitalise Bangla silk sector

Boosting yarn production in Bangladesh could help revitalise the silk ...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search