Industry & Economy
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Textiles
Notification on setting up textile parks in 2 weeks
Our Bureau
Kolkata
,
Aug 4
THE Union Textiles Secretary, Mr R. Poornalingam, today said that the notification for setting up 25 textile parks in the country in two years is expected to be issued in a week.
The Cabinet committee has already approved the proposal forwarded by IL&FS and SIDBI.
The project is aimed at improving the country's processing, weaving, and garment manufacturing capacity.
The project is along the lines of the Ministry's textile park at Tirupur, which has already attracted Rs 300 crore of investment in 60-odd units and is likely to export goods worth Rs 3,000 crore next year.
Addressing a meeting at the Bengal National Chamber of Commerce today, Mr Poornalingam said that IL&FS had identified 13 locations for setting up the textile parks during the year.
The parks will be developed through special purpose vehicles.
The Centre will provide capital subsidy up to Rs 40 crore for developing the physical infrastructure of each park.
"We had previously tried to develop such parks through the State Governments. However, against 13 proposals, hardly two came up in the last one-and-a-half years."
Regarding the processing sector, he said that to attract investment in this sector, the Centre would continue the additional capital subsidy scheme for a year. "We feel that about 100 processing units will come up this year."
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