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Related Keywords: apart from the Centre's textile package, attract investment, attract textile entrepreneurs, avert existing unit, entire value chain, introduced own textile policies, Maharashtra government, Major Cotton growing states, migrating to other major cotton growing states, new textile policy, other incentives, plans to introduce, TUFS

Major Cotton growing states have introduced their own textile policies apart from the Centre's textile package, the technology upgradation fund scheme and other incentives, to attract investment. Maharashtra government to attract textile entrepreneurs in the entire value chain and also to avert the existing unit from migrating to other major cotton growing states is planning to introduce a new textile policy in next two months.

Related Keywords: Amended-Technology Upgradation Fund Scheme, attract investment, bring in flexibility in labour laws, Chinese textile and apparel industry, cleared special package for textile and apparel sector, create million new jobs, deal with rising competition, Fixed term employment, generate exports, increase subsidy, Union Cabinet

The Union Cabinet on Wednesday cleared a Rs 6,000 crore special package for the textiles and apparel sector with an aim to deal with the rising competition from China’s textile and apparel industry. The move, according to the government, would create 10 million new jobs in the next three years, in addition attracting investments of $11 billion and generating $30 billion in exports. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi.

Related Keywords: attract investment, boost economic ties, Ehtiopia, Ethiopia pushing to create a textile industrial complex in Adam, EU, export goods to USA, offer tax benefits to South Korean textile companies, sees textile as gateway to Ethiopian market, sign some forthy MoUs, South Korea, to invest in the textile industry of Ethiopia, Youngone Corporation

South Korea and Ethiopia are expected to observe the signing of some 40 memorandums of understanding (MOUs) that could further boost their political and economic ties as their leaders President Park Geun-hye and Ethiopian Prime Minister Hailemariam Desalegn prepare to hold talks.
At the talks, the two leaders are expected to discuss a wide-range of issues, including trade, investment and development cooperation , a senior South Korean official said.

Related Keywords: attract investment, benefit the economy, expecting thirty thousand crore investment, export oriented goods, main fcous on manufacturing, mega textile parks, Minister of State for Textile, new textile policy, not sell the National Textile Corporation (NTC) lands, Santosh Gangwar, seventy four textile parks, value added products

With government planning to announce a new textile policy by April this year with main focus on manufacturing of value added products and export oriented goods that will benefit the economy. The government is also expecting Rs.30,000 crore investment in 74 textile parks, said Minister of State for Textile Santosh Gangwar at Make in India Week held in Mumbai.

The government has given approval to 24 Textile Parks in the last one year, the rest were cleared by the previous government. So in total 74 textile parks will be set up, which will attract an investment of Rs 30,000 crore.

Related Keywords: arriving with huge delegation, attract investment, begin on Feburary, Chief Minister Siddaramaiah, created land bank, includes textiles, Karnataka government, mobilize investments in investible projects, seven partner nations, thriving eco system for investment, upcoming global investors meet

The Karnataka government is looking to attract twice the Rs 1.30 lakh crore investment it has wooed in the last two years at the upcoming global investors meet which will begin on Febuary3, 2016. Chief Minister Siddaramaiah said that with a thriving eco-system for investment the state's expectations were "realistic". Several mega investment projects would be announced at the meet. The government hopes to mobilize investments in 116 investible projects identified already.

Related Keywords: attract investment, availability of human resources, domestic and global firms, encourage investors move to small towns, generate jobs, hi tech textile training center, hold Invest Karnataka, Karnataka state government, land and labour, set up textile park, Yadgir industrial park

The Karnataka state government is holding ‘Invest Karnataka -2016’ for three days from February 3 for attracting investment from domestic and global firms. The government will be making every effort at Invest Karnataka 2016 to encourage investors to move away from Bengaluru and give impetus to tier-II and tier-III cities. Investors will go to small towns because of availability of human resources, land and labour.

Related Keywords: Amended Technology Upgradation Fund Scheme, attract investment, benefit textile industry, better quality in processing industry, better technology looms, boost Make in India initiatives, Cabinet Committee on Economic Affairs, export, introduction of ATUFS, promotion of technical textiles, replace existing RR TUFS, targets employment generation

The Cabinet Committee on Economic Affairs on Wednesday gave nod to the introduction of “Amended Technology Upgradation Fund Scheme (ATUFS)” which will replace the existing Revised Restructured Technology Upgradation Funds Scheme (RR-TUFS) for technology upgradation of the textile industry.

A budget provision of Rs 17822 cr has been approved of which Rs 12671 cr is for committed liabilities under the ongoing scheme and Rs 5151 cr for new cases under ATUFS.

Related Keywords: attract investment, ETP and interest subsidy, handloom and power loom, Karnataka state, mega projects, modification in Javali Neethi, push geographical distribution, spinning, strengthen textile value chain activities, Technical textile, textile and garment units, Textile parks, textile policy, weaving

Karnataka comparing with the policies of Maharashtra and Gujarat has made some modification in its Javali Neethi (Textile Policy) 2013-18 with an aim to not only strengthen its textile value chain activities but also to spur technical textiles and go for an aggressive push for geographical distribution of textile and garment units.

The State is encouraging investments in almost all the sub-sectors of textile in the form of Textile Parks, Mega Projects, Integrated units and MSME units.

Related Keywords: approved policy in principle, attract investment, in form of new machines, infrastructure provision, Maharashtra state government, major cotton producer, processor, setting up clusters, textile policy designed by Suresh Halwankar

The Maharashtra state government has approved the policy in-principle designed by Suresh Halwankar, BJP MLA from Ichalkaranji and it is now being discussed at the secretary level as it is a major cotton producer and processor in the country. However, the final call on the proposed textile policy would be taken only after September 11.

The policy is expected to attract investments worth Rs 80,000 crore. The investment will come in the form of new machines, setting up of clusters and infrastructure provision.

Related Keywords: advancement in handloom, attract investment, CEDOK, create five lakh jobs, offered by the new policy, on new textile policy of Karnataka state, one-day district-level workshop, people aware of benefits, research and development, textile business

A one-day district-level workshop on the new textile policy 2013-18, of the Karnataka State government was organised by the Department of Handloom and Textiles, the Dakshina Kannada Zilla Panchayat, the Centre for Entrepreneurship Development of Karnataka (CEDOK) and the Lions’ Club, at the Lions’ Club Seva Mandir on Saturday to make people aware of the benefits offered by the government .

At the inauguration, the District In-charge Minister B Ramanath Rai said that public awareness is necessary to achieve advancement in the field of handloom and textile business.