The Karnataka government is planning to revise its textile policy to attract more investments from the private sector. The state had announced its policy Suvarna Vastra Neethi in 2008 for a period of five years. However, the department of handloom and textiles is presently working to revise the policy and plans to announce it towards the end of 2012 or early 2013.
“We are actively studying similar policies in neighbouring states of Maharashtra, Gujarat and Tamil Nadu to incorporate some of the best features and announce a new industry-friendly textile policy,” Varthur Prakash, minister for textiles, said.
Speaking to investors at the road show for textile industry, organised as part of the Global Investors’ Meet (GIM) being held on June 7 and June 8, here, he said the government wants to attract investors in a big number. Already, investment proposals worth Rs 3,500 crore have been made ahead of the GIM 2012, he said.
Since the launch of the Suvarna Vasthra Neethi in 2008, the government has seen investment to the tune of Rs 2,700 crore in the textiles sector. During the road show held at Kolhapur, the department of textiles has received interest for investing Rs 2,200 crore, Rs 500 crore from Bhilwara and Rs 50 crore each at Surat and Coimbatore. The investors are interested in investing in the areas of spinning, weaving, processing and manufacturing of technical textiles, he said.
The textile and garment manufacturing industry is the second largest employment provider in the state after information technology industry. Some of the largest exporters including Gokaldas Images Pvt Ltd, Gokaldas Exports Ltd and Himatsingka Seide Ltd are based in Bangalore. The recent entrants into the textile sector in Karnataka include Bombay Rayon Fashions Ltd, S Kumars Nationwide Ltd, and Shahi Exports among others.
The Department of Handlooms and Textiles is also promoting apparel parks in Gulbarga, Dodballapur, Bijapur, Belgaum, Bellary and Shimoga. Prakash who invited entrepreneurs to consider investing in new projects in these parks.
Highlighting the advantages of investing in Karnataka, Commissioner for Textile Development and Director, Handlooms and Textiles, D A Venkatesh, said, “We have taken a holistic approach to develop the textiles and handlooms sector in the state. We are also encouraging cluster-based projects.”
These parks could house integrated textile production facilities such as spinning, weaving, processing, garmenting and other ancillary units enabling the industry in cost reduction, enhanced quality and overall competitiveness.
The South Indian Mills Association (SIMA) has come forward to set up a Textile Processing Park, on the lines of Tarapur and Cuddalore, in Karnataka. Presently, Dharwad, Shimoga and Dakshina Kannada districts are being considered for setting up the Park. In addition to this, Spinning and Weaving Parks are being set up in Dharwad, Belgaum, Bijapur and Chitradurga districts.
There has been generation loss of 84.69 billion units in the country during April 2012 and January 2013 due to coal and gas shortages, poor quality ...
The 8.5 per cent growth figure is "directionally" fine because there was an uptick in the growth rate from 2013-14 to 2014-15, said Arvind ...