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Gujarat attracts investments in textile units

Gujarat's textile policy, announced in 2012, has so far attracted investment commitments worth Rs 9,208 crores through varied units such as weaving, made-ups, processing, spinning, ginning and technical textiles. The plan is to attract Rs 20,000 crores of investment and 2.5 million new jobs by 2017.

Under the policy, 549 textile units have got approvals. The latest nod is for a textile and apparel park coming up in Surat. This park will come up on 62 acres, house 42 manufacturing units and generate 1,900 jobs. So far, 12 such parks have received an in-principle nod.

Approvals have been granted for 43 units, 42 of these units are weaving, made-ups, knitted fabrics, processing, embroidery, cotton ginning and twisting, and one unit for technical textiles. These units have bagged approvals for interest subsidy and value-added tax concession, apart from a power rate subsidy for weaving units. Nearly Rs 603 crores have been invested for plant and machinery. While made-up units will enjoy an interest subsidy of seven per cent, technical textiles and rest of the units will enjoy six per cent and five per cent respectively.

Maharashtra, too, has rolled out a textile policy aiming to attract Rs 40,000 crores of investment and create 1.1 million job opportunities in five years.