Karnataka has tweaked its 2013-2018 textile policy to strengthen textile value chain activities and give an impetus to technical textiles. The policy will also go for an aggressive push for geographical dispersion of textile and garment units.
The state is encouraging investments in almost all sub-sectors of textiles in the form of textile parks, mega projects, integrated units and medium and small scale units. It has made changes to create capacities across the textile value chain.
The policy also focuses on strengthening and enhancing capacity of all essential value chain activities such as spinning, weaving (handloom and power loom), including pre-loom activities, knitting, processing, garmenting, and other support ancillary activities like textile machinery manufacturing.
The modified policy has offered attractive packages for mega projects (investment of Rs 100 crores to Rs 500 crores), ultra- mega projects (investment of Rs 500 crores to Rs 1,000 crores) and super mega projects (investment of more than Rs 1,000 crores).
The basket of incentives is offered for credit linked subsidy, power subsidy, ESI / EPF reimbursement, entry tax and stamp duty reimbursement, ETP and interest subsidy. The aim is to attract Rs 8,000 crores worth of investment by 2018 and create employment for four lakh people in the state.
www.textiles.kar.nic.in
