Government of Indian state of Telangana has initiated the process to formulate textile and apparel policy to facilitate loans for weavers. The Government is yet to take final call on the matter under process.
According to reports, the Government is also considering what kind of subsidies could be offered for capital investment and purchase of equipment by entrepreneurs. Tax incentives and power subsidy are also being examined.
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The State has also reportedly decided to give 40 per cent concession on purchase of yarn by textiles industry in addition to the 10 per cent already given by Centre. A power subsidy for powerlooms operating with motors of 27 HP capacity is also under consideration. The Government will procure purchase orders from weavers.
A number of national and international textile entrepreneurs are waiting for the policy as they will decide their investment in spinning, weaving, processing and garment sectors at Warangal textile park in the state.
