Home / Knowledge / News / Textiles / Karnataka announces New Textile & Garment Policy 2019-24

Karnataka announces New Textile & Garment Policy 2019-24

01
Nov '19
Pic: Shutterstock
Pic: Shutterstock
The Karnataka cabinet yesterday cleared the ‘New Textile & Garment Policy 2019-2024’ that aims to attract investments worth ₹10,000 crore, generate over five lakhs jobs and make the state a leading player in the sector, state minister for law and parliamentary affairs JC Madhuswamy announced. The state contributes 20 per cent to national garment production.

The overall budget requirement for implementing the policy is about ₹2,282.86 crore spread over the eight to nine years, Madhuswamy said. During the policy period 2019-24, the budget requirement is around ₹1,582.17 crore, media reports from the state quoted him as saying.

The new policy also provides for capacity building and vendor development, and envisages creation of centres of excellence for textiles and technical textiles.

Karnataka contributes 49 per cent to mulberry silk production, 12 per cent to wool production and 6 per cent to the country’s cotton production.

For equitable investment flow into the state, the policy has come out with a zonal classification, according to which Zone 1 comprises the entire Hyderabad-Karnataka (HK) region; Zone 2 covers all areas other than municipal corporations and district headquarters in non-HK regions, Zone 3 consists of all municipal corporations, district head quarters in non-HK regions; and Zone 4 comprises Bengaluru urban and Bengaluru rural districts.

The policy has credit-linked capital subsidy for micro, small and medium enterprises (MSMEs), large enterprises, interest subsidy for large enterprises and power subsidy for MSMEs and large enterprises.

The policy also aims to offer segment wise incentives like ginning, spinning, weaving (handloom and power looms), processing, integrated units, garmenting fashion/buying houses, technical textiles, silk and wool.

A special package is available for mega units–for textiles this involves fixed investments above ₹300 crore and minimum employment of 350; for garment units, it has been for fixed investments above ₹200 crore and minimum employment of 3,000.

The new policy plans to offer cluster based development strategy for providing infrastructure development for greenfield textile parks, brownfield cluster development and common effluent treatment plant and hazardous waste disposal facility.

Fibre2Fashion News Desk (DS)


Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Atul Mittal,

Atul Mittal

Established in 1997, Pratibha Syntex produces over 60 million pieces of...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search