Business

India: First Textile Park Under SITP Scheme In Vidarbha Comes Up In Hinganghat

The effort of the state government in `Make in Maharashtra’ seems to have borne fruit with the first textile park being allotted to the textile city of Hinganghat in District Wardha under the new SITP scheme of 2012 – 2017 . The park under the name of Hinganghat Integrated Textile Park is being jointly promoted by Gimatex, Bhagirath, Anoop Textiles, Elecon, Toto Toya & certain individuals who have come together to form a Special Purpose Vehicle (SPV). The park is being set up in an area with ample availability of cotton, polyester and other raw materials so as to ensure win-win situation for entrepreneurs and the farmers. The park will be developed on 32 acres of land with an estimated investment of Rs 308 crore and employment generation capability of around 1200 people.

“Maharashtra is the best place to invest for textiles owing to numerous benefits and our park will be the best place in Maharashtra to set up new units in textiles owing to numerous benefits,” said the main promoter of the park Prashant Mohota, MD of Gimatex. He further added, “We are receiving great support from both state and the Centre to make this park operational quickly, and we are working towards its timely completion.”

Congratulating the efforts of the park holders, first time MLA of the region Sameer Kunnawarji said, “The city has three major textile groups operating in the region for more than 100 years, hence this region’s workforce has a textile skill set available for new units. Also the new investments in cotton downstream processing will ensure that farmers in the region get the best price for their cotton produce. I am very hopeful that this park will further catapult this place into a major textile cluster leading to prosperity for the whole cotton chain including the farmer”.

The park scheme is being promoted by the Ministry of Textiles in line of vision set by the government’s scheme for integrated and cluster approach modelled on the lines of China. Around 20 parks have been approved under the new scheme, with around four in the state of Maharashtra. This scheme has recently been modified to ensure strict compliance to project execution and to promote new investments into textiles by first time entrepreneurs. The biggest benefit of this model is the shorter lead time in setting up units with all common buildings and utilities being set up by the SPV, for most efficient use.