Home / Knowledge / News / Textiles / Maharashtra's textile policy attracts Rs 24bn investment

Maharashtra's textile policy attracts Rs 24bn investment

04
Sep '12
The western Indian state of Maharashtra has attracted investments totaling Rs. 24 billion under its new textile policy announced earlier this year, state Textiles Minister Naseem Khan has said.
 
Eight textile processing companies, including Ginni International Ltd., Jaideep Group of Industries, Oswal Spinning and Weaving Mills Ltd, Shyam Indospin Ltd. and Jindal Poly Films Ltd., have submitted their Letters of Intent to invest in the cotton-producing regions of the state, the Minister said.
 
An additional about Rs. 40 billion worth of investments are likely to come the state’s way after these companies set up their manufacturing units in Vidarbha, Marathwada and Khandesh regions, he added.
 
The Minister felt that setting up of ginning and pressing units would generate employment and stop farmer suicides in the region as farmers would get a better price for their crop.
 
Maharashtra formulated a new textile policy in March this year with an aim to create 1.2 million new job opportunities in the cotton growing regions of the state. Under the policy, new textile units would get 12.5 percent interest subsidy and 10 percent subsidy on their capital.
 

Fibre2fashion News Desk - India


Must ReadView All

US President Joe Biden. Pic: Shutterstock

Textiles | On 29th Jul 2021

Proposed amendments to raise US content in federal purchases announced

The United States has decided to raise US-made content in government...

Pic: Shutterstock

Apparel/Garments | On 29th Jul 2021

Uninterrupted supply chain crucial for Vietnam amid ongoing COVID wave

Ensuring that the supply chain of Vietnam is not interrupted amid the ...

Pic: Moschino

Fashion | On 29th Jul 2021

Italy’s Aeffe buys remaining 30% stake in Moschino for full ownership

Italian luxury fashion company Aeffe has acquired fashion house...

Interviews View All

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

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


July 2021

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


Advanced Search