INDIA: TELANGANA LAUNCHES INCENTIVE SCHEME FOR TEXTILE AND APPAREL
The State Government of Telangana has announced the ‘ Textile and Apparel Incentive Scheme 2017’ to woo investors. Existing, as well as the upcoming units, will be benefited from the newly announced policy, stated Industries Principal Secretary Jayesh Ranjan.
The launch of the new textile policy is seen as a major boost to the textile and apparel industry in Telangana.
Capital Assistance, Operational Assistance, Infrastructure Support, Capacity Building and Skill Development Support, and Fibre to Fabric Incentive(s) have been sanctioned for the industry in the state.
The Government has also made a provision for further customization of the units set up with an investment of Rs. 200 crore or above.
A provision of capital subsidy of 25 per cent is also there for the conventional textile facilities and 35 per cent for technical textile units engaged in the production of medical textiles, geotextiles, agro-textiles, protective apparels, etc.
Units promoted by SC/ST entrepreneurs or persons with disability (PWD) will be given an additional capital subsidy of 5 per cent as per the latest policy announced.
Measures for power subsidy and land rebate have also been considered by the Telangana Government.
Jayesh Ranjan, Industries Principal Secretary