policy initiatives - Textile Magazine
policy initiatives - Textile Magazine
policy initiatives - Textile Magazine
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<strong>policy</strong> <strong>initiatives</strong><br />
Maharashtra textile <strong>policy</strong> envisages<br />
Rs. 40,000-crore investment<br />
Mr. Mohammed Arif Naseem Khan<br />
State <strong>Textile</strong>s Minister<br />
The Maharashtra Cabinet has cleared the textile <strong>policy</strong><br />
which aims to bring in investment to the tune of Rs.<br />
40,000 crores and create employment opportunity for<br />
around 11 lakh people. The highlight of the <strong>policy</strong> is<br />
that it provides for 12.5 per cent interest subsidy and 10<br />
per cent capital subsidy for new co-operative and private<br />
sector textile units in the cotton growing belts of<br />
Vidarbha, Marathwada and North Maharashtra.<br />
Concessions under the <strong>policy</strong> will be applicable to all<br />
areas concerned with the textile industry like cotton ginning<br />
and processing, weaving / knitting, readymade garment<br />
manufacturing, processing of fibre / yarn / fabrics /<br />
garments, modernisation / expansion and rehabilitation<br />
of existing textile units, textile parks, and skill development<br />
activities, among others. Similarly, in the rest<br />
of the State, the interest subsidy is 10.5 per cent which<br />
includes five per cent from the Centre and four-five per<br />
cent from the State industrial <strong>policy</strong>, besides the recent<br />
provision.<br />
The State <strong>Textile</strong>s Minister, Mr. Mohammed Arif<br />
Naseem Khan, said the <strong>policy</strong> aims at development of<br />
the cotton growing belt of the State and welfare of the<br />
farmers in the region. The <strong>policy</strong> also proposes insurance,<br />
housing and medical health scheme for handloom<br />
and powerloom workers. “Because of the subsidies, the<br />
State exchequer will face a burden of Rs. 450 crores<br />
every year.”<br />
According to him, out of the 22 lakh powerloom<br />
units in the country, Nagpur, Bhiwandi, Malegaon and<br />
Solapur districts of Maharashtra have around 10 lakh<br />
units.<br />
“The Government had released loans to the tune of<br />
Rs. 1,919 crores to as many as 123 co-operative textile<br />
units in the State up to the 10th Five-Year Plan (2002-<br />
07), of which only Rs. 54 crores has been repaid,” he<br />
added.<br />
At present, as many as 59 co-operative textile units<br />
and 110 privately-run textile units are functioning in the<br />
State.<br />
•<br />
62 | The <strong>Textile</strong> <strong>Magazine</strong> jANUARY 2012
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