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Maharashtra to provide 10% subsidy for new textile units

06
Mar '12
The Maharashtra government has approved 10 percent capital subsidy for new textile units that will be set up in regions of Vidarbha, Marathawada and North Maharashtra.

This policy will be applicable up to 2017 says the Maharashtra government resolution (GR), of which fibre2fashion has a copy.

The capital subsidy shall be in addition to all the benefits available from all other sources like TUF Scheme, Industries Department's policy, etc. including the assistance in respect of interest subsidy available under the new Textile Policy of the State.

However, the capital subsidy comes with a rider. Textile projects that were approved by banks before the GR was issued will not be eligible. Moreover, the 10 percent subsidy will not cover modernization or expansion of existing units.

Click here to read and download the government resolution.

Fibre2fashion News Desk - India


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