Gujarat textile policy to attract 20,000 cr investment by 2017

Gujarat’s textile policy 2012 plan to attract around Rs 20,000 crore investment and 2.5 million new jobs by 2017, so far under the policy, 549 textile units have got approval and attracted investment worth Rs 9,208 crore through varied units such as weaving, made-ups, processing, spinning, ginning and technical textiles.

The latest nod is for a textile and apparel park coming up on 62 acres in Surat and will house 42 manufacturing units and generate 1,900 jobs. So far, 12 such parks have received in-principle nod.

Led by Gujarat’s minister of industries Saurabh Patel, the state government has set up a ministerial committee to look into the approvals and promotion of the textile sector in the state by incentivizing the same.

The committee met for its 10th meeting recently and approved 43 units — 42 units of weaving, made-ups, knitted fabric, processing, embroidery, cotton ginning & twisting, and one unit of technical textiles. These units, to come up in Surendranagar, Surat, Botad, Morbi, Rajkot, Valsad, and Junagadh districts, bagged approval for interest subsidy and value-added tax (VAT) concession for all units, apart from power rate subsidy for weaving units.

Patel said that these units have invested Rs 603 crore for plant and machinery. Among the incentives, while made-up units will enjoy interest subsidy of seven percent, technical textiles and rest of the units will enjoy six per cent and five percent, respectively.

The committee, in the past nine meetings gave approval for 506 units investing around Rs 8,605 crore.

Recent Posts

INNOVERA shines in Karmuel Young’s convertible design

Modern Meadow proudly announced that Karmuel Young, founder of the Hong Kong-based menswear label, integrated the INNOVERA biomaterial into his…

3 days ago

XYXX launches fast-fry innerwear range with Tactel fabric

XYXX has introduced its latest innovation in men’s innerwear, featuring Tencel-enhanced Tactel fabric that enables fabric to dry up to…

3 days ago

Dhana Inc., Accelerating Circularity to advance sustainability in textiles

Dhana Inc. has partnered with Accelerating Circularity Inc. (ACP), a nonprofit organization focused on developing textile-to-textile recycling systems.

3 days ago

Circulose, Tangshan Sanyou to scale sustainable textile production

Circulose has entered a strategic partnership with Tangshan Sanyou Chemical Fiber, marking a major step toward the commercialization and scaling…

3 days ago

LebaTex introduces faux leather collection

LebaTex has launched a new faux leather collection featuring over 100 unique colors and textures, including polyurethane, vinyl, and silicone…

3 days ago

Gabriela Hearst unveils sustainable sneaker collection

Gabriela Hearst has introduced eco-friendly sneaker line, named "Ohio," made from 30% recycled materials, reflecting the brand’s commitment to sustainability.

3 days ago