New garment policy to attract Rs 10k crore investment: Minister Munenkoppa

"Over 5 lakh people will be benefited with the Rs 10,000 crore investment and offering special benefits to women working in the garment and industrial sector," he added.

Published: 19th August 2022 06:10 AM  |   Last Updated: 19th August 2022 12:29 PM   |  A+A-

Sugarcane farmers are not able to sell their yield in Tirunelveli. (Photo | V Karthikalagu, EPS)

(Photo | V Karthikalagu, EPS)

By Express News Service

BENGALURU: Sugar and textiles minister Shankar B Patil Munenkoppa on Thursday said that the government is working on increasing the subsidy offered to companies for setting up units.

He told TNIE that they were also looking for start-ups to come forward and help women be empowered. He was speaking on the sidelines of the interaction session organised by the handloom and textiles department with industries, and the signing of MoUs with five companies including Gokul Das Textiles. Over 100 industries participated in the event.

On the occasion, the new garment policy 2019-24 was shared to draw more investment. “The policy is aimed at attracting investment up to Rs 10,000 crore, and create employment for over 5 lakh people and offering special benefits to women working in the garment and industrial sector,” Munenakoppa said.

He added that with the new policy, 544 MSME units have started functioning in Karnataka, and Rs 745 crore has already been invested in various districts. Also, 64,000 people have been trained and provided jobs. Further, Rs 1,060 crore has been invested for mega projects and these units would generate 17,300 jobs.

“The aim is to make Karnataka known as the garment capital of India. State is providing 20 per cent of the clothes manufactured in India. Karnataka plays a major role in exporting raw materials. Under this policy, by increasing the subsidy from 40 per cent, more industries should come and set up units here. More focus will be given to the Kalyana Karnataka region,” the minister said, adding that the policy is industry-friendly.

It offers up to 100 per cent support price and discounts. He said while garment units have started in Shivamogga and Hassan districts, units in Chamrajanagar and Ramanagara districts will also start on the same lines. He asserted that the government is developing textile parks and those who come up to develop these will be given up to 40 per cent or Rs 40 crore, the highest under SPV model.

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