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The Textile Magazine
jANUARY 2012
Maharashtra textile policy envisages
Rs. 40,000-crore investment
policy initiatives
The Maharashtra Cabinet has cleared the textile poli-
cy which aims to bring in investment to the tune of Rs.
40,000 crores and create employment opportunity for
around 11 lakh people. The highlight of the policy is
that it provides for 12.5 per cent interest subsidy and 10
per cent capital subsidy for new co-operative and pri-
vate sector textile units in the cotton growing belts of
Vidarbha, Marathwada and North Maharashtra.
Concessions under the policy will be applicable to all
areas concerned with the textile industry like cotton gin-
ning and processing, weaving / knitting, readymade gar-
ment manufacturing, processing of fibre / yarn / fabrics /
garments, modernisation / expansion and rehabilitation
of existing textile units, textile parks, and skill devel-
opment activities, among others. Similarly, in the rest
of the State, the interest subsidy is 10.5 per cent which
includes five per cent from the Centre and four-five per
cent from the State industrial policy, besides the recent
provision.
The State Textiles Minister, Mr. Mohammed Arif
Naseem Khan, said the policy aims at development of
the cotton growing belt of the State and welfare of the
farmers in the region. The policy also proposes insur-
ance, housing and medical health scheme for handloom
and powerloom workers. “Because of the subsidies, the
State exchequer will face a burden of Rs. 450 crores
every year.”
According to him, out of the 22 lakh powerloom
units in the country, Nagpur, Bhiwandi, Malegaon and
Solapur districts of Maharashtra have around 10 lakh
units.
“The Government had released loans to the tune of
Rs. 1,919 crores to as many as 123 co-operative textile
units in the State up to the 10th Five-Year Plan (2002-
07), of which only Rs. 54 crores has been repaid,” he
added.
At present, as many as 59 co-operative textile units
and 110 privately-run textile units are functioning in the
State.
w
Mr. Mohammed Arif Naseem Khan
State Textiles Minister