Uttarakhand government plans to set up three textile parks

Uttarakhand government plans to set up three textile parks

The Uttarakhand government is planning to set up a series of textile parks in the Kumaon region by offering attractive incentives, which includes a rebate on the land price, besides capital subsidies

Under mega textile policy, three textile parks in Kashipur, Jaspur and Sitarganj are being set up where a host of incentives will be available to attract new investments.

The company setting up a new unit will be given a 50 % rebate on the land price, a government official said. The new project having investment above INR 75 crore (around USD 11.28 million) will be termed as a mega textile park project under the poly guidelines.

The government is also offering state capital subsidy. For MSMEs, the capital subsidy will be 15 % cto a maximum limit of INR 50 lakh (USD74402.37) and for heavy industry 15 % to a maximum limit of Rs 30 lakh (USD 44670)

An interest subsidy of 7 % is also being offered by the government while cent percent VAT concession will be given on purchase of raw material and on sale of finish goods for seven years from the start of the production. Further, there will be 100 % stamp duty rebate on the purchase of land.

For the allotment of industrial plots the government has made the State Infrastructure and Industrial Development Corporation of Uttarakhand (SIDCUL) the nodal agency under the single window system.

But now the efforts made by the Jammu and Kashmir government to revive the most job oriented sector gives a ray of hope to the Kashmir valley.

Revival of Pashmina industry can be an alternative for the increasing number of unemployed in the state, and it is the industry which is cottage based and provides employment for people in rural and urban areas without involving large infrastructure.

Pashmina is derived from Persian word Pashm and Mina, Pashm means soft and Mina means hair. Pashmina fibre has a unique position among animal fibres for its fineness, warmth, durability, lightness, softness and ability to absorb dyes and moisture easily.

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