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Related Keywords: mega textile parks, needs to be rectified, non-textiles units operating from inside the parks. many loopholes in the scheme, recommends new scheme, report found scheme failed to achieve its objectives, reviewing the Scheme for Integrated Textile Parks, SITP, special purpose vehicles of the parks violated norms, Textile Ministry

The Textile Ministry is reviewing the Scheme for Integrated Textile Parks (SITP) after a report found that the scheme failed to achieve its objectives and special purpose vehicles of the parks violated norms as non-textiles units were operating from inside the parks. Also there are many loopholes in the scheme which needs to be rectified, according to a senior Textiles Ministry official.

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.