Textile hub plan in Vidarbha: Govt will change fortunes of cotton farmers, says CM Fadnavis .

The state government’s policy to promote the textile sector has started yielding results, with Chief Minister Devendra Fadnavis recently performing the bhoomipujan for the units of J K Investors Ltd. and Raymond Group of Companies at Nandgaon Peth in Amravati.

The state government, which has tapped Rs. 4,000 crore investments with employment generation of 12,500 in the cotton distressed districts of Vidarbha, carried out major amendments in the textile policy for increasing ease of doing business.

Fadnavis said, “We have worked out an integrated model of textile and agro industries to open up new market opportunities with higher remuneration for cotton farmers in Vidarbha and Marathwada.”

The textile sector is the second largest when it comes to employment. Cotton cultivation stretches to 42 percent of the agro-land. Tax concession on yarns, cotton processing units, interest subsidy upto ten percent are part of the national “Farm to Fashion” policy to promote the textile sector.

Major policy decisions to promote the sector includes 30 per cent subsidy for self financing. The government has stressed single-window clearance to provide land along with basic infrastructure. Concessions in power tariff is an added attraction for investors. The state government had signed an MoU with Raymond Group of Companies for a textile park and manufacturing hub worth Rs. 1,400 crore, during the Make In India Week in February in presence of Prime Minister Narendra Modi.

“In less than two months, all formalities have been completed paving the way for the mega-textile hub to start work,” the CM said, adding, “Amravati as the leading textile destination of the country will become a reality in the next four years.”

THE INDIAN EXPRESS