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Maharashtra offers capital subsidy in new textile policy

Maharashtra’s textile policy offers a primary capital subsidy of 25 to 40 per cent across the value chain. There are area-wise and sector-specific incentives, such as ten per cent additional subsidy and lower electricity rates for setting up units across under-developed regions.

Apart from the conventional textile business, the policy also offers incentives for pollution-free and eco-friendly dyeing and processing plants. Non-conventional yarn like bamboo, banana, ghaypat, ambadi, coir and maize has also been identified for incentives to make yarn. The policy has also offered to set up a textile university and a Textile Development Fund with an initial corpus of Rs 300 crores to Rs 400 crores.

Maharashtra will set up nine textile parks in the northern cotton-growing regions of the state. The aim is to supplement farmers’ income through value-added products. Value addition -- from produce to fiber to fabric to fashion – is expected to help farmers get a good price for cotton.

The state has reserved 93 hectares of land in Yavatmal district for setting up a textile park. The park would ensure large scale employment to the youths of the region besides providing better avenues for farmers to garner the maximum benefit. Basic infrastructure including supply of energy, water and provision for sewerage water treatment plant at the site would be provided.