Business

Two Mega Textile Parks To Come Up In Gujarat

In a major boost to the textile industry and to enable forward and backward integration in the sector, the government of Gujarat has announced establishment of two mega textile parks during the budget presentation in Gandhinagar. These parks will be set up as part of the Union Budget announcement, of setting up seven mega textile parks. Industry players feel the move will go a long way in making the industry globally competitive. "Mega Investment Textile Parks will make the industry more competitive at a global level and this will not just boost exports but at the back-end, it will also help generate more employment. At the same time, a single cluster will definitely help bring in more investments in the textile sector," said Chintan Thaker, co-chair, Assocham - Gujarat State Council. In the state budget, the government has also made a provision of Rs 1500 crore for the MSME sector. Gujarat textile industry has welcomed the budget.