More Incentives In The New Haryana Textile Policy

More Incentives In The New Haryana Textile Policy

The Haryana government has prepared Textile Policy 2017 to provide incentives for setting up of new textile units in the state. The policy proposes capital subsidy of 10 per cent for the eligible new projects of all textile enterprises across the state. Industrial plots would be made available by HSIIDC and panchayats on lease, under the policy.

Further, textile companies would get financial assistance of up to 50 per cent of the cost for adopting technology from recognised national institutes. However, the upper limit for this assistance would be Rs.25 lakh.

“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 of Rs.5,000 crore,” an official spokesperson said.

The policy has been especially prepared to benefit the state’s cotton belt comprising Bhiwani, Sirsa, Fatehabad, Hisar and Jind districts. “This sector provides employment to about one million people and exports readymade garments worth two billion US dollar annually,” he said.

The policy aims at making Haryana a preferred destination for international textile majors, and increasing textile exports at 20 per cent CAGR during the policy period.

In addition, a textile park would be set up at Hansi in Hisar district. The park would house weaving, sizing and garmenting enterprises. The existing quality marking centre for textile goods at old industrial area in Panipat would also be upgraded to global standards, the official added.

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