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Odisha attracts investments with new textile policy

Odisha launched the Odisha Apparel Policy recently. Reacting to it, deputy general manager of Odisha Spinning Mills Federation Narayana Sahu said this is the first exclusive policy for apparels by any state and is a positive gesture for industrialists from Tirupur and other clusters to choose Odisha as destination for setting up manufacturing facilities.

Welcoming entrepreneurs to his state, he said that those who wished to make investments in Odisha would be extended a slew of incentives both for setting up standalone apparel production units and opening up units inside apparel parks coming up in Odisha. Incidentally, the government of Odisha is planning to make two apparel parks under the Apparel Policy near Bhubaneswar.

Sahu stated every individual standalone unit would be given an incentive of Rs 1,500 per worker every month for a period of 36 months provided they employ a minimum of 200 workers. Besides this, interest subsidies could also be availed by such units. For the units coming up in the apparel parks, capital grants to the tune of 20 per cent of the project cost would be given, he declared.