Gujarat Minister Saurabh Patel announces Textile Policy 2012
Gandhinagar, 5 September 2012
Minister of State for Industries, Saurabh Patel today declared the Gujarat Textile Policy (GTP) 2012 which focuses on “Farm-to-foreign” strategy. The new policy aims at attracting investments to the tune of Rs 20,000 crore and creating 25 lakh new job opportunities, 50% of them for rural women, over the next five years. According to the minister, a new textile policy to promote the industry, besides aiming cotton growers to get the best prices for their produce in India and overseas. The policy covers spinning, ginning, weaving, knitting, carpeting, dyeing and processing, garments and technical textiles.
-The State Government would provide interest subsidy of 5-7% without ceiling for five years on new plants, power tariff concession of rupee one per unit for five years, refund of VAT on purchase of raw materials and on expansion of existing and new units.
-Financial assistance will be given to skill development centres for textile industry, technological acquisition for value-chain, support for energy and water conservation and environmental compliance, and sales tax exemption and partial financial assistance to developers to encourage setting up of spinning and weaving parks around cotton growing areas.
-The State Government would provide 150 acres of land, stamp duty exemption to developers and units, and assistance up to 50 per cent with a maximum ceiling of Rs.30-crore for common infrastructure for cotton spinning park.
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