June 17, 2024
Policies

Karnataka To Formulate New Textile Policy 2024-29

In his budget speech, Karnataka CM Siddaramaiah said government will formulate a new textile policy 2024-2029 for the development of the textile sector as the earlier textile policy 2019-2024 ends this year.

“This policy will also promote greater investment and employment opportunities. We expect a capital investment of Rs 10,000 crore, which will generate 200,000 direct jobs,” the CM added.

He further added that a mega textile park will be established on 1,000 acres in Kalaburagi district under a public private partnership model (PPP) in collaboration between the state and central governments.

“A grant of Rs 50 crore will be provided for supplemental infrastructure for this project,” Siddaramaiah stated.

New textile parks will also be constructed in Kittur Karnataka, Kalyana Karnataka (Raichur) and Mysuru regions under a public private partnership model.

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