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Haryana govt approves new textile policy

Chandigarh, Feb 27 (UNI) Keen on making Haryana a global hub of textile manufacturing, and a preferred investment destination, the state government has approved a new textile policy 2018 to incentivise setting up of new units, and ensure growth and modernization of the existing textile industry in Haryana.
This was stated by Industries and Commerce Minister Vipul Goel after the meeting of the State Cabinet which met under the chairmanship of Chief Minister Manohar Lal Khattar here today.
Mr Goel said, “The policy is packed with fiscal incentives and contains provisions for infrastructure augmentation, setting up of textile parks, promotion of Khadi industry 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.”
He said that the policy has been formulated with an eye on the cotton belt of Haryana. 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 $ 3 billion are exported from the state annually.
The Minister said that the policy proposes capital investment subsidy of 10 per cent subject to maximum of Rs 20 lakh for the eligible capital investment for Individual Textile Units set-up in Textile Parks in ‘A’ & ‘B’ category blocks. For bringing in women entrepreneurship in Haryana, the policy proposes 15 per cent capital subsidy subject to maximum of Rs 25 lakh. It aims to boost textile exports by Compound Annual Growth Rate (CAGR) of 20 per cent during the policy period.
He said that to support the growth of backward regions, the policy proposes support to individual Textile units set up within and ‘even outside’ the Textile parks in ‘C’ & ‘D’ category blocks. The policy also proposes 25 per cent capital investment subsidy at the rate of 25 per cent maximum up to Rs 50 crore on the eligible capital investment specially to promote anchor units.
Mr Goel said that to Support Textile Machine Manufacturing, the policy proposes Interest subsidy at the rate of three per cent per annum charged by lending agencies on term loan and capital subsidy at the rate of 15 per cent of Gross FCI to manufacturers of textile machinery across state.
Textile enterprises acquiring technology will be provided financial assistance of up to 50 per cent of the cost for adopting technology from premier national institutes, subject to maximum of up to Rs 25 lakh across the state, he said and added that market fee and HRDF charges will be reduced and charged at the rate of 0.25 per cent each.
Mr Goel said that under the policy, the state government will facilitate setting up of Apparel parks exclusively for apparel manufacturing units in Mewat district. An Integrated Textile Park in Hisar District and a Textile Park exclusively for Dyers and Processors in Faridabad district shall also be assisted by the state government.
In addition, the government will also facilitate the process of development of clusters in the state namely Carpet cluster at Panipat, Garmenting cluster at Gurugram and Hosiery cluster at Sirsa. If the number of projects is such that the requirement of funds is more than Rs 500 crore, then the selection of projects will be done through draw of lots.
He said that to promote Khadi industry, government with the help of KVIC/ Design institutions such as NIFT will support Khadi units by subsidizing the retainer fee paid to designers. The policy also envisages collaboration with premier engineering and research institutes such as IIT Delhi to promote entrepreneurship and new product development in Textiles’ including Technical textiles.
The government will provide financial support to the extent of 50 per cent of the investment towards purchase of equipment and machinery to set up new training centres or up gradation of existing training centres.
Under the policy, various other assistance such as stamp duty refund, exemption on external development charges and infrastructure development charges has also been proposed for textile park developers/promoters. However, the exemption in external and infrastructure development charges will not be applicable to those textile parks which have already been issued Letter of Intent by the Town and Country Planning department.
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