India: Karnataka clears new textile policy

0
2451

The Karnataka State Cabinet has approved a new textile policy (2013-18) envisaging an investment of Rs 10 billion in the next five years. The 2008-2013 policy of the BJP government envisaged investment of Rs 5 billion but that government spent only Rs 1.45 billion, according to state government officials.

Also Read  Good Supply Vs Poor Demand Resulted In Unexpected Lower Prices

 

The new policy will provide more employment in the garment sector, and will give a boost to spinning mills. A revival package for spinning mills is also in the offing, the minister informed. A single window agency will also be established for catering to investment requirements of companies keen on investing in the state. The policy encourages investment in tier-II cities such as Mysore, Mangalore, Hubli-Dharwad, and Belgaum.

Also Read  Rieter Implements Strategies As Covid-19 Impacts Business

LEAVE A REPLY

Please enter your comment!
Please enter your name here

80 + = 85