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Related Keywords: across under developed regions, additional subsidy, area wise and sector specific incentives, decided to offer primary capital subsidy across the value chain, eroded over recent years, Government in Maharashtra, help restore as a prime hub, lower electricity rates, new textile policy, setting up units

The government in Maharashtra’s new textile policy to help restore it’s place as a prime hub eroded over recent years. The state government has decided to offer a primary capital subsidy of 25-40 percent across the value chain. Also, area-wise and sector-specific incentives, such as 10 percent of additional subsidy and lower electricity rates for setting up units across under-developed regions.

The new textile incentive has attracted investment commitments of Rs 360 billion, compared to Rs 200 billion assured for the neigbouring state of Gujarat, a ready alternative for manufacturers.

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: CII Conference on Achieving Sustainable Growth, demand pattern, industry members, invited inputs, Maharashtra Cooperation, Maharashtra government, Manufacturing Excellence, Marketing and Textiles Minister Subhash Deshmukh, new textile policy, Technical Textiles, textile and apparel industry, value added garments, year 2017-2022

Maharashtra Cooperation, Marketing and Textiles Minister Subhash Deshmukh at CII Conference on Achieving Sustainable Growth in Textile and Apparel Industry through Manufacturing Excellence said that the Maharashtra government will be coming out with the new textile policy for year 2017-2022 soon.

The Maharashtra government is working out a new textile policy and has invited inputs from all the industry member in this regard.
Textile Commissioner Kavita Gupta, who was also present on the occasion, said that the government is focussed on value added garments and technical textiles.

Related Keywords: aims to achieve USD three hundred billion, create an additional thirty five million jobs, forthcoming Textiles India, in the next three months, likely to be finalised, new textile policy, output from foreign players, trying to incorporate international response, worth of textile exports

The new textile policy which is likely to be finalised in the next three months, aims to achieve $300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs, a senior official said.

The draft textile policy that was finalized after consultation with stakeholders, they are now trying to incorporate international response and output from foreign players at the forthcoming Textiles India-2017 conference, which will serve as input to the new textile policy, said Textiles Secretary Anant Kumar Singh at an CII event held in Mumbai.

Related Keywords: current fiscal, exploring new markets, falling share of China in textile exports, FTAs, India positive on achieving export mark, meeting of industry body Texprocil, new textile policy, Rashmi Verma, readu to capitalize, Secretary, special package announced to boost exports, taking elaborate marketing plan, Textile, USD fifty billion

With the government announcing a special Rs.6,000 crore package and taking elaborate marketing plans to boost exports. Textile Secretary Rashmi Verma speaking on the sidelines of a meeting of industry body Texprocil held in Mumbai said that they are hopeful of achieving $50 billion mark in exports in the current fiscal as compared to $38 billion exports last year.

The Union Cabinet last week approved special package for the sector with an aim to create one crore new jobs in three years and attract investments of $11 billion while eyeing additional $30 billion in exports.

Related Keywords: excise duty on manmade fibre, excise duty on textile, excise duty on yarn, import duty on fabric, import duty on filament, import duty on polyester, Indian textile industry, new textile policy, textile industry budget

While there was no fresh proposition in the Union Budget 2016 for the textile industry, which was presented to the Parliament on 29 February, the income growth expected to steam up the India economy will have favourable impact on overall demand, and for textiles in particular.

Related Keywords: benefit West Bengal, CFCs, development, eastern region state, get new skill centres, long term policy for ten year, marketing of diversified products, Minister of State of for Textiles Santosh Kumar Gangwar, National Jute Board, new textile policy, placed in budget session of Parliament, production, special incentives, train in designing

Minister of State of for Textiles Santosh Kumar Gangwar at the National Jute Board event held in Kolkata said that they expect to place the new proposed Textile Policy which will be a long term policy for 10 year in the Budget session of Parliament. As special incentives may to be announced for the eastern region states, the new textile policy is projected to benefit West Bengal in a big way.

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: Indian textile policy, investment in textile sector, new textile policy, textile exports of India, textile exports target of India, textile parks in India, textile sector of India, textiles minister

Union Textiles Minister Santosh Kumar Gangwar said that New National Textile Policy is to be issued before the end of April, 2016 during the budget session of the Lok Sabha.

The new policy sets a target to achieve $300 billion (nearly Rs 20.50 lakh crore) textile exports by 2024-25 and generate employment opportunities with an additional 35 million jobs.

The policy is expected to accommodate a series of reforms to make India a truly manufacturing hub in textiles sectors so that Indian textiles players can take maximum advantages of the slowdown in Chinese textiles industry.

Related Keywords: Global Investors Meet, new textile policy, SIMA, SITRA, Tamil Nadu state to announce, Technical textile, Textile Industry, Tirupur Exporters Association, top destination for investment

The Tamil Nadu State would be soon announcing a new textile policy, making the already successful textile industry a top destination for investment, industry experts said at a seminar at the Global Investors Meet (GIM) on Thursday.

Tamil Nadu - the nation’s largest textile manufacturer would be able to corner a lion’s share of the 15 million new jobs that would be generated, with the Indian textile industry poised to touch US$ 500 billion by 2025.