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Textile parks to sprout in Karnataka

Karnataka will establish textile parks in every taluka of the state to encourage youths to become entrepreneurs and self-dependent. The state government has also decided to adopt a new policy to help establish small and medium industries by providing 35 per cent financial assistance to the general category, 40 per cent to women and 50 per cent financial assistance to those belonging to the scheduled castes and tribes.

The government will provide power, land, water and other infrastructure including loans from banks and financial institutions at very reasonable rates of interest. The first such park will come up at Holalkere taluka on 20 acres of land. Another 1,000 acres have been allotted for a textile park at Yadgir in north Karnataka. The construction of the textile park, in the most backward region of the state, is likely to improve the condition of cotton growers and weavers besides generating employment for a large number of people.

Karnataka wants industries to move away from the congested Bangalore region. The government is ready to offer incentives to industries willing to move out of Bangalore. Large areas will also be identified for setting up mega textile parks. Each of these mega parks will be on 2,000 to 5,000 acres of land so that foreign direct investment can be attracted.

 

 
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