Incentives for new units

Haryana govt's Textile Policy offers

GMT 12:32 2017 Monday ,03 April

Sriyadithatextile - Haryana govt's Textile Policy offers

Haryana Textile Sector
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Keen on making Haryana a global hub of textile manufacturing and a popular investment destination, the state government has prepared Textile Policy-2017.

Under the policy, the government will give incentives for setting up new units and ensure growth and modernisation of the existing textile industry in the state.

"Taking a holistic approach to the issue, the policy is packed with fiscal incentives and contains provisions for infrastructure augmentation, setting up of textile parks, and facilities for skill training. It aims at generating 50,000 new jobs by attracting investment in the textile sector to the tune of Rs 5,000 crore," an official spokesman said today.

The policy has been formulated with an eye on the cotton belt of Haryana, he said here.

"The state is one of the leading cotton producers in the country with Sirsa, Fatehabad, Bhiwani, Hisar and Jind being the main cotton producing districts.

"This sector provides employment to about one million people and readymade garments worth USD two billion are exported from the state annually," he said.

The policy proposes capital subsidy of 10 per cent for the eligible new projects of all textile enterprises across the state.

"It aims at positioning Haryana as a preferred destination for global textile majors, besides boosting textile exports by Compound Annual Growth Rate (CAGR) of 20 per cent during the policy period," he said.

Under the policy, the HSIIDC will offer industrial plots on lease for 33 years with five per cent increase in annual lease rent. Besides, panchayat land will also be made available on lease for industrial development, he said.

Textile enterprises acquiring technology will be provided financial assistance of up to 50 per cent of the cost for adopting technology from recognised national institutes, subject to maximum of up to Rs 25 lakh.

The spokesman said that in order to meet the demand for an international quality testing centre at Panipat, the existing quality marking centre for textile goods at old industrial area in Panipat would be upgraded to global standards.

The government would also facilitate setting up of a textile park at Hansi in Hisar district.

The park would house weaving, sizing and garmenting enterprises to augment the already strong infrastructure for ginning, spinning that already exists in that region.

For Khadi industry, the government plans to facilitate retail space at nominal rates for Khadi institutions.

Locations such as famous tourist spots, places with heavy footfall such as airports and retail hubs would be explored for such opportunities, he added.

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