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Haryana (India) announces incentives for new textile units

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State Government of Haryana (India) has announced to give incentives for setting up new textile units in its newly prepared Textile Policy 2017. The move is aimed to make Haryana, a global hub of textile manufacturing and a popular investment destination.

The policy proposes capital subsidy of 10 per cent for the eligible new projects of all textile enterprises across the state. The Government has also given assurance to ensure growth and modernization of the existing textile industry in the state.

“Taking a holistic approach to the issue, 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 in the textile sector to the tune of Rs. 5,000 crore,” an official spokesman was quoted as saying by a leading news agency.

Also ReadHaryana (India) crafts new textile policy

The policy has been formulated with an eye on the cotton belt of Haryana. Sirsa, Fatehabad, Bhiwani, Hisar and Jind are main cotton producer districts of the state. Haryana notes annual export of readymade garments worth US $ 2 billion annually.

Under the policy, the HSIIDC will offer industrial plots on lease for 33 years with five per cent increase in annual lease rent. Besides, panchayat land will also be made available on lease for industrial development, the source added.

The State Government has also decided to upgrade the existing quality marking centre for textile goods at old industrial area in Panipat to global standards to serve as international quality testing centre. It would also facilitate setting up of a textile park at Hansi in Hisar district.

Khadi has also been given prominence in the policy and government is planning to facilitate retail space at nominal rates for Khadi institutions at places frequented by tourists.

 

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