ARTICLE AD BOX
Surat: After the announcement of the state government’s 2024 textile policy, so far 1200 industrialists have applied for subsidies and incentives under various schemes, in which 18 files have been approved in the first phase, in which an investment of Rs 49.91 crore has been made.
The applications that are coming will be inspected on site and approved every month under the chairmanship of the district collector. Out of the 1200 applications, the highest number is from weaving and garment segment units. Since Surat is the hub of the country in manmade fabric, garment manufacturing units with powerloom, airjet, waterjet and processing are increasing rapidly. With facilities like machinery subsidy, interest subsidy, electricity tariff concession and infrastructure support in the policy, the path of new investment has become easier for small and medium industrialists.
The 1200 applications received from Surat in this policy are not just on paper, but can prove to be a big economic turning point for the city. Because in the 18 files that have been approved, there is an investment of 49.91 crore. That is, with 1200 applications, an investment of approximately 500 to 700 crore can be made in the textile sector. 20 to 50 people will get employment per unit, which means that about 40 thousand new jobs can be created. With increasing production capacity, gray cloth, fabric and garment exports can increase by 8 to 12 percent, which will make Surat stronger in textiles.
Till now, there was a rule in the policy that only units established outside the city limits would be given benefits, due to which many units operating within the city limits for years were deprived of benefits. However, keeping in mind the representations of industrialists and the needs of industries, the government has recently made an important change in this rule. Now, units which are not polluting and meet the environmental standards will get the benefits of the policy despite being within the city limits. This change will especially benefit small units of garment and weaving.
Out of the approximately 1200 applications received under the textile policy, the largest share of 25% has been seen from the weaving sector, in which more than 300 applications are for powerlooms, airjet machines. Currently, the city’s textile industry is in upgradation mode. So, industrialists are installing machines in the weaving industry. Apart from this, many applications have also been received for garment units. While applications have also been received from the processing and dyeing-printing sectors.
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