Maharashtra to set up textile parks in cotton belt-Texglobe

Maharashtra to set up textile parks in cotton belt

Updated: 2010-8-19 Source: Texglobe

The State Government of Maharashtra in a bid to initiate and formulate a comprehensive textile policy will establish textile parks in the cotton belts of the state.

This textile policy will prove essential for the state, particularly the farmers of the state. In the past decade, over 10,000 farmers in the state committed suicide due to harsh conditions in farming.

The proposal is to establish cotton processing and textile units in cotton producing regions of the state as most of the cotton produced in the state has to be sold in other states and will also create huge numbers of job opportunities.

In addition to this, the State Government will encourage the private sector to take up set up units in these regions and will also provide additional financial assistance to modernize powerloom units as well as spinning mills in the state.

Besides, the Central Government has also allocated Rs 31.4 billion for Maharashtra. The new policy in the state will also provide more financial incentives to all sorts of businesses in the state.