The Maharashtra Government on Monday rolled out a red carpet to woo the textile industry in Gujarat to invest in the neighbouring State, promising it subsidies, schemes and policy initiatives.

Under the New Textile Policy, announced earlier this year, the Maharashtra Government is targeting investments to the tune of Rs 40,000 crore in the 2011-17 period.

A Maharashtra delegation, led by Minister for Textiles Mohammed Arif (Naseem) Khan, said here his Government would not only be providing capital and interest subsidies to the private sector, but had also adopted a zero window policy among other initiatives.

Gujarat produces 12 million bales of cotton against nine million in Maharashtra and accounts for 12 per cent share of the country’s total textile exports. About 250 large fabric process houses are located in Ahmedabad and 350 in Surat, with the latter being the largest centre of art silk fabric, producing over 40 per cent of production in the country.

Mr Khan said businessmen from Gujarat could also invest in the proposed textile parks coming up in Maharashtra. “The State Government will provide 9 per cent capital subsidy or up to Rs 9 crore for

infrastructure development in the proposed textile parks. This is in addition to the Rs 40-crore subsidy from the Centre. A total investment of Rs 10,000 crore is envisaged in the development of the 14 textile parks. One textile park is expected to house 50 units.

Related Topics
comment COMMENT NOW