NE BUSINESS BUREAU
GANDHINAGAR, OCT 15.
The Gujarat government on Tuesday announced its new textile policy, offering a host of subsidies and financial incentives to the entrepreneurs wanting to set up units in the state. Unveiling the ‘Gujarat Textile Policy 2024’ at an event held in Gandhinagar, Chief Minister Bhupendra Patel said the state is expected to attract an investment of ₹ 30,000 crore in the textile sector.
મુખ્યમંત્રીશ્રીએ ગુજરાતને ‘ટેક્સટાઇલ સ્ટેટ ઓફ ઇન્ડિયા’ અને ‘ડેનિમ કેપિટલ’ ગણાવતા કહ્યું હતું કે, માનનીય વડાપ્રધાન શ્રી નરેન્દ્રભાઈ મોદીએ વર્ષ 2012માં તેમના ગુજરાતના મુખ્યમંત્રી તરીકેના કાર્યકાળ દરમિયાન જાહેર કરેલ ફાર્મ ટુ ફાઇબર, ફાઇબર ટુ ફેબ્રિક, ફેબ્રિક ટુ ફેશન, ફેશન ટુ ફોરેનની… pic.twitter.com/8H2AJKEzAf
— CMO Gujarat (@CMOGuj) October 15, 2024
Incidentally, Surat textile sector had made this demand over a month ago.
મુખ્યમંત્રી શ્રી ભૂપેન્દ્રભાઈ પટેલના વરદ્હસ્તે વિકાસ સપ્તાહ નિમિત્તે રાજ્ય સરકારના માહિતી ખાતા અને ઇન્ડિયન રેડ ક્રોસ સોસાયટી (ગુજરાત સ્ટેટ બ્રાંચ)ના સંયુક્ત ઉપક્રમે મીડિયાકર્મીઓ માટેના હેલ્થ સ્ક્રીનિંગ કાર્યક્રમ 'ફીટ ઈન્ડીયા, ફીટ મીડિયા'નો અમદાવાદ ખાતે શુભારંભ કરવામાં આવ્યો હતો.… pic.twitter.com/vMM0GC41Wq
— CMO Gujarat (@CMOGuj) October 15, 2024
The new textile policy offers capital subsidies ranging from 10 to 35 percent. This is a significant shift from the previous policy, which provided an interest subsidy of 5% to 6%. Under the new framework, businesses can now avail a 5% to 7% interest subsidy. Additionally, the policy introduces a power subsidy of ₹ 1 per unit. A total assistance of ₹1,107 crore has been earmarked for 5,592 industrial units across the state.
- The new textile policy offers capital subsidies ranging from 10 to 35 percent
- A total assistance of ₹1,107 crore has been earmarked for 5,592 industrial units across the state
- The Chief Minister also announces infrastructure upgrades worth ₹ 418 crore, including water supply and road improvements in industrial zones, and inaugurates projects worth ₹ 146 crore
- The term of the previous five-year-long textile policy, announced in 2019, ended this year
Gujarat government issued letters of intent for quarry leases valued at Rs 699 crore.
Chief Minister Bhupendra Patel highlighted: “Prime Minister Narendra Modi’s vision during his tenure as Gujarat’s Chief Minister when he introduced the Five-F Formula (Farm to Fiber, Fiber to Fabric, Fabric to Fashion, and Fashion to Foreign) under the 2012 Textile Policy, positioning Gujarat as a leader in the sector.”
Gujarat Textile Policy-2024 is a symbol of Gujarat’s commitment towards realizing the 'Viksit Bharat @ 2047' vision of Hon'ble PM Shri @narendramodi.
The new revolutionary textile policy, launched today by CM Shri @Bhupendrapbjp, will weave a leadership position for the State in… pic.twitter.com/Bis3i8vipJ
— CMO Gujarat (@CMOGuj) October 15, 2024
“The new Textile Policy 2024 aims further to bolster Gujarat’s status as a textile hub, focusing on key areas such as garments, apparel, and technical textiles. The policy also emphasises women’s empowerment through self-help groups (SHGs) in rural and urban areas, providing increased employment opportunities and income growth,” he said.
The Chief Minister also announced infrastructure upgrades worth ₹ 418 crore, including water supply and road improvements in industrial zones, and inaugurated projects worth ₹ 146 crore.
Industry Minister Balvantsinh Rajput and Minister of State Harsh Sanghavi praised the government’s initiatives, noting that Gujarat has become an industrial growth model.
With Gujarat contributing 18 per cent to the nation’s industrial production and 33 per cent to exports in 2022-23, Rajput stated that the state plays a vital role in India’s economic progress.
