(MENAFN– KNN India)
Maharashtra textile policy aims to attract investments worth 25k cr
Mumbai, May 31 (KNN) The Maharashtra cabinet on Tuesday cleared the new textile industry policy with the aim to create job opportunities for over five lakh people. It aims to attract investments worth Rs 25,000, an official said.
The state government also aims to increase cotton-processing capacity from 30 per cent to 80 per cent in the next five years.
“The objective is to provide incentives to traditional textile weavers. Festival allowance of Rs 10,000 will be provided to certified and registered male weavers and Rs 15,000 to female weavers annually. The policy aims to introduce a social security cover in the form of a pension scheme,” an official said.
As per reports, under the new policy, the textiles commissionerate and silk directorate will be merged to form the textiles and silks commissionerate.
The Maharashtra State Textile Development Corporation will be created by merging three corporations for the growth of the industry, reported TOI quoting official sources.
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