State Government of Haryana (India) has drafted a new textile policy with an aim to create 50,000 new jobs and attract investments up to Rs. 5,000 crore to become a textile manufacturing hub. The policy is packed with fiscal incentives and provisions for better infrastructure; establishment of textile parks; and facilities for skill development of textile workers in the state.
Also Read – New Textile & Apparel Policy of Jharkhand makes the region more competitive than Bangladesh on wages
According to an official, the draft policy proposes capital subsidy of 10 per cent for the eligible new projects of all textile enterprises across the state. It also eyes at positioning Haryana as a preferred destination for global textile majors and boosting textile exports by a Compound Annual Growth Rate (CAGR) of 20 per cent during 2017.
Also, as the state is one of the leading cotton producers in the country, the policy has been framed with an eye on the cotton belt of the region.
Under the policy, Haryana State Industrial and Infrastructure Development Corporations (HSIIDC) will provide industrial plots for a lease of 33 years with 5 per cent increase in annual lease limit. Panchayat land will also be made available on lease for industrial development. The State Government will also facilitate setting up of a textile park at Hansi in Hisar district. The Park shall house weaving, sizing and garmenting enterprises to augment the already strong existing infrastructure for ginning and spinning.
Also Read – Odisha’s apparel policy to benefit Tirupur apparel Industry
The enterprises that will enable new technologies at their units will get monetary assistance of up to 50 per cent of the cost from recognized national institutes, along with electricity exemptions from the Haryana Government.
