With the implementation of the new textile policy, the State government is expecting that the sector will attract investments of more than Rs 10,000 crore and also generate nearly five lakh new jobs in the next five years.
The draft policy will be placed before the State Cabinet for approval shortly, Minister for Textiles and Ports Baburao Chinchansur told reporters.
He explained that the policy has been drafted after consultation with various stakeholders.
“We have also studied the policies adopted in other states such as Maharashtra, Gujarat, Tamil Nadu and Andhra Pradesh in detail,” the Minister stated.
Chinchansur revealed that during interactions related to the formulation of the policy, representatives from the textile industry, including those from garment sector, sought various incentives such as subsidies on capital investment.
“Subsidy for interest on loans and power consumed by textile units are among the demands made by the entrepreneurs,” he added.
Responding to questions on the textile sector, he said that it has received about Rs 5,500 crore in investment in the last five years and about 2.5 lakh jobs were also created. He added that 12 per cent of all exported textile products from the country are from Karnataka.
KSPCB notices
Referring to the notices issued by the Karnataka State Pollution Control Board (KSPCB) against powerlooms, which are operating within Bangalore, Chinchansur said that their owners had sought more time to relocate the units to the city’s outskirts.
“There are about 10,000 powerlooms operating within the city and the residents have lodged complaints against them for causing air and noise pollution,” he said. He also stated that the government has released Rs 42 crore for the waiver of loans availed by weavers.
“Another Rs 27 crore will be spent to provide them houses and help them to maintain their looms,” he added.
