Maharashtra will get its first technical textiles park — at Ichalkaranji off Kolhapur in the state’s western region.The project entails an investment of Rs 110 crore, of which government subsidy will total Rs 50 crore: four-fifth of this by the Centre and the rest Rs 10 crore by the state government.
The rest will be raised through members’ contribution, loan and subsidy under the Technology Up-gradation Fund. Technical textiles include textiles for automotive applications, medical textiles, geo textiles, agro textiles used for crop protection and protective clothing for fighters, bullet proof jackets and space suits.
Prakash Awade, who is the developer of the upcoming endeavour with the involvement of micro, small and medium enterprises, said the proposal had already been submitted to the textiles ministry and the approval was expected soon.
“The idea is to build up a CFC (common facility centre) and meet the needs of small and medium entrepreneurs in the technical textiles segment. The CFC will have all the necessary expertise to complete the job work as proposed by the micro, small and medium entrepreneurs who will be part of the proposed technical textiles park,” he told Business Standard.
The park will be commissioned in next six months as the land was in the possession of Kalappa Awade Industrial Estate. Awade said the textiles ministry has already launched technology mission on technical textiles. Besides, the ministry will announce two new missions for standardisation of testing laboratories and boosting marketing strength, he added.
According to Awade, the market for the technical textiles both in and outside India is huge. “Similar technical textiles parks can be set up in other parts of Maharashtra.”
Chief Minister Prithviraj Chavan says the proposed technical textiles park will add value to the traditional textiles sector and lead to a manifold increase in revenues.
Currently, only 25 per cent of cotton grown in Maharashtra is processed within its boundaries; the rest goes to other states having a vibrant textiles industry. Chavan has requested to the Centre to set up a public sector venture capital fund to encourage entrepreneurs to explore new areas of technical textiles.
The government’s move comes at a time when the recent Ficci study shows the Indian technical textiles industry is projected to grow to Rs 1.4 trillion ($31.4 billion) by 2016-17.
Two of the most important sectors, where technical textiles products have the potential of being used in significant volumes, are healthcare and infrastructure. It is expected that technical textiles would be increasingly used in both these sectors either due to increase in awareness or government regulations.
The troubles for the Indian banking system are likely to increase in the next 12 months due to slow economic growth and sluggish fiscal reforms. ...
State's tourism policy offers both fiscal and non-fiscal incentives for boosting tourist infrastructure