April 17, 2024
Industry

Several Initiatives From Maharashtra To Become Textile Hub

Advancing its vision of establishing itself as a textile hub, Maharashtra has committed to developing 18 mini textile parks among various other initiatives.

“These mini textiles parks will attract investment of Rs 1,800 crore and create employment for 36,000 people,” Chandrakant Patil, Textile Minister, Maharashtra wrote in the Financial Express.

Furthermore, the Maharashtra Industrial Development Corporation (MIDC) has expedited the growth of the state’s textile industry with the development of 11 textile parks.

These textile parks are strategically located in areas like Amravati, Thane, Solapur, Kolhapur, Nagpur, Nashik, Pune, and Nandurbar as of 2020.

To emerge as a leading textile hub, Maharashtra recently released an Integrated and Sustainable Textile Policy 2023-2028.

This new policy manifests its stringent efforts in fostering robust conditions to attract investments, strengthen economic growth, and create significant employment opportunities within the state.

The policy aims to promote its textile value chain via technological upgradation and envisages attracting a staggering Rs 25,000 crore investment which will create over five lakh jobs in the next five years.

Further, the state is aiding development of six technical textile parks, enhancement of research and development to implement sustainable innovations.

Patil added that Maharashtra accounted for 10.4 percent of India’s textile and apparel production and employed over 10 percent of total employment in the industry in India.

“A robust focus on policies and interventions also remains fundamental in strengthening our infrastructural capacities to facilitate Maharashtra’s growth as a global textile hub,” he stated.

Maharashtra is also a recipient of the PM MITRA Park Scheme to be set up in Amravati, which is projected to attract investment of Rs 10,000 crore and create direct and indirect employment for nearly 300,000 people.

Maharashtra also has cotton acreage of 39.41 lakh hectares and access to an extensive coastline, with altogether 50 ports.

Maharashtra is also increasing the state’s stakes as a leading textile centre to establish a garment trading hub in Mumbai, giving it a competitive edge alongside China’s Guangzhou and Turkey’s Istanbul.

The state is also laying additional emphasis on utilising information technology (IT) to promote ease of doing business, and augment skill development to ensure adequate skilled manpower in the industry.

“Drawing from India’s ambitious endeavours to achieve US $100 billion in exports by 2030, Maharashtra is emerging as a potent contender in driving the country’s textile industry,” Patil informed.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *