Maharashtra Unveils New Textile Policy
The government of Maharashtra approved a new textile policy, which is aimed at attracting investment of Rs 25,000 crore and thereby boost investment in the state’s textile industry.
“According to the policy, there will be an increase in the cotton processing capacity in the state from 30-80% over the next five years and generate new employment for up to five lakh people,” Indian Express reported.
The aim is to set up six Technical Textile Parks under the policy, while the Maharashtra Technical Textiles Mission will also be undertaken to ensure aggressive growth of the sector.
To promote research and development in the emerging Technical Textiles sector, Rs 50 crore will be allocated every year.
The Textile Commissionerate and the Silk Directorate will be merged to form the Textile and Silk Commissionerate.
Moreover, the Maharashtra State Textile Development Corporation (MSTDC), will be created through a functional merger of the existing three corporations to develop a sustainable and fertile environment for the growth of the state’s textile industry.
