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Haryana Textile Policy aims for integrated development of textile sector

Related Keywords: aiming integrated development of textile industry, at the same time, capital subsidy for investment in Plant and Machinery, Haryana state government announced, ICRA said, new state policy introduces measures, remove current mismatch across the value chain, state specific Textile Policy on April, under ATUFS, with the state

The Haryana state government announced the state specific Textile Policy on April 2017 aiming for integrated development of the textile industry with the state, at the same time remove the current mismatch across the value chain, said Credit rating agency ICRA on Wednesday.

The new state policy introduces measures such as capital subsidy at 10 percent for investment in Plant and Machinery (P&M) eligible under ATUFS (Amended TUFS). This will reduce the project cost upon commissioning;

Textile Made-ups segment to get additional 10 pc subsidy under ATUFS

Related Keywords: capital investment subsidy, entire textile value chain, get additional ten percent, made up segment, second largest employment generator, subsidy, Technology Upgradation Fund Scheme, textile sector, textiles ministry, under ATUFS

The made-ups segment which is the second largest employment generator after apparels in the entire textile value chain will get additional 10 percent capital investment subsidy of up to Rs 20 crore under the Amended Technology Upgradation Fund Scheme.

According to the notification from the Textiles Ministry "Every eligible made-ups unit which has availed 15 percent benefit under ATUFS will be paid an additional 10 percent capital investment subsidy on their investment up to an additional maximum cap of Rs 20 crore".

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