NEW Tex­tile pol­icy for 2018-2307 In­tro­duced in Ma­ha­rash­tra

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The Ma­ha­rash­tra cabi­net has ap­proved a new tex­tile pol­icy for 2018-2023 to at­tract in­vest­ment of Rs 36,000 crore and gen­er­ate 10 lakh jobs. Re­duc­ing power tar­iff and rais­ing cap­i­tal sub­sidy for spin­ning mills are two key as­pects of the pol­icy, which takes for­ward the ‘Make in Ma­ha­rash­tra’ idea to strengthen the cot­ton in­dus­try and silk busi­ness.

Higher con­ces­sions for set­ting up units in Vi­darbha, Marath­wada and north Ma­ha­rash­tra re­gion is aimed at re­duc­ing re­gional im­bal­ance in the state and cot­ton pro­duc­ing re­gions, which have re­ported a large num­ber of farmer sui­cides, also have been em­pha­sized. In­fra­struc­ture will be cre­ated for tex­tile clus­ter and gar­ment parks, as per the pol­icy, which also sug­gests set­ting up of a tex­tile univer­sity in the Vi­darbha re­gion.

Cap­i­tal sub­sidy has been in­creased sub­stan­tially for pro­cess­ing units, spin­ning mills, and mod­erni­sa­tion of power looms. It pro­poses to give 45 per cent cap­i­tal sub­sidy for pro­cess­ing units, and 25 per cent for spin­ning mills and mod­erni­sa­tion of power looms. An ad­di­tional sub­sidy of 20 per cent for pro­cess­ing and gar­ment units in Vi­darbha, Marath­wada and north Ma­ha­rash­tra has also been pro­posed.

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