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Karnataka comes out with new textile policy

14
Oct '08
The textile and particularly the garment industry is booming in the state of Karnataka. It is home to the biggest garment manufacturers in India. The state also has a major share in the basket of textile and garment exports from the country. Now in order to provide a further boost and a thrust to the industry, the Karnataka government has come out with a new textile policy.

The new textile policy aptly named 'Suvarna Textile Policy' (2008-13), expects to attract new investments to the tune of Rupees 100 billion over a period of five years. The policy envisages setting up of textile and apparel parks in various districts of the state with the target of creating 500,000 new job opportunities.

The government is also piping in with a subsidy of rupees 5 billion during the five year period and as a first step towards promoting the textile policy among potential investors, the state is holding an investors summit on November 1, 2008 in Bangalore.

Minster of textiles, Mr Gulihatti Shekhar informed that the Karnataka Industrial Area Development Board (KIADB), has started acquiring land for the envisaged parks and the acquisition process is expected to be completed in a few months time.

He also added by saying that first phase of the Apparel Park at Doddaballapur had been completed and work on the second phase adjoining the first one would be completed soon.
KIADB would shortly allot land for the proposed Hi-tech Silk Weaving Park at Anekal in Bangalore rural district for which several firms had evinced interest in setting up units.

Textile parks have been proposed to be set up in districts of Belgaum, Mysore, Davangere and Ramanagaram. A textile park has been planned for Gulbarga district too, but the extent of land required has not been finalized, said the textile minister.

While giving out further details, Mr Shekhar said that the textile parks would attract massive investments and would also help in reducing manufacturing costs. While the park in Belgaum would focus on power-looms, the one in Bellary would promote denim based garments.

He hoped that the state would emerge as a major garment sourcing destination worldwide leading to a doubling of exports which currently stood at rupees 66 billion and accounted for 20 percent of all textile and apparel exports from India.

The minister added by saying that readymade garments, power-looms, textile machinery manufacturing, handlooms and knitting units are amongst the categories which will receive special attention under the textile policy.

Fibre2fashion News Desk - India


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