INDIA: Government mulls 15 more textile parks
The Indian Government is considering investing INR20bn (US$412m) in setting up 15 new textile parks over the next three years in a bid to boost the industry's competitiveness.
Speaking at the inauguration of the Gujarat Eco Textile Park on Wednesday (9 September), Textiles Minister Dayanidhi Maran said the new textile parks would be in addition to the 40 currently being developed.
Maran also revealed a roadshow is being planned for seven European countries to try to attract foreign direct investment in Indian textiles.
Set up in 2005, the Scheme for Integrated Textile Parks (SITP) is developing state-of-the-art facilities in textiles growth centres.
When the 40 parks are fully operational, it is expected they will attract an investment of INR 194.5bn, produce goods worth INR340bn each year, and provide jobs for 800,000 people.
The Gujarat Eco Textile Park has been set up on a 104 acre site, and is set to produce textiles worth INR8.5bn annually. It will also provide employment for 25,000 people.
The facility includes technical textiles units, processing units, high-tech weaving units and embroidery units, and will use rainwater harvested at the park. It also features design and research & development centres.
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