Business

Maharashtra Lures Textile Units From Karnataka, TN

Maharashtra state government is seeking investment in the textiles sector from Tamil Nadu and Karnataka where integrated textile chains are grappling with several problems, including power cuts and pollution control norms. Textiles minister of Maharashtra Subhash Deskmukh said under the new textile policy Solapur will be developed as a textiles and uniform manufacturing hub. To intensify the appeal of Maharashtra as a textile investment hub, the state government is organising a three-day Uniform, Garment and Fabric Manufacturers Fair in Bengaluru between January 8-10. Since its launch three years ago, nearly 400 textiles units have been set up in the Solapur textiles hub, which the government of Maharashtra plans to raise to 2,000 by 2022. In the new textiles policy, the state government announced Rs 3 per unit of power tariff for co-operative cotton mills and Rs 2 per unit for powerlooms, cloth processors, garment and hosiery units. The state had earmarked Rs 1.5 billion for the purpose. The state government announced plans to invest as much as Rs 46.49 billion in various schemes to be implemented under the ‘Fibre to Fashion’ mission from 2018-23. The state aims to generate one million jobs by 2023.