The Government of Gujarat has introduced its new textile policy, offering capital subsidies ranging from 10% to 35%. This marks a significant shift from the previous policy, which primarily provided an interest subsidy of 5% to 6%. Under the new scheme, the interest subsidy has been increased to between 5% and 7%, alongside the introduction of a power subsidy of Re. 1 per unit.
A total financial assistance of Rs. 1,107 crore has been allocated to support 5,592 industrial units under this policy.
The previous textile policy, declared in 2019, led to an investment of Rs. 35,000 crore, according to the state government. Gujarat, which contributes 25% to India’s overall textile industry, is now aiming to attract an additional Rs. 30,000 crore in investment with the new policy.
The earlier policy, which had a five-year tenure, expired at the end of 2023. Prior to this, the Gujarat government had also introduced a textile policy in 2012.
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