TIRUPUR, September 01, 2014 : Union Minister of State for Textiles Santhosh Kumar Gangwar on Sunday said that the Government would be announcing 25 more textile parks soon.
“We have received applications for setting up new textile parks to provide high-quality infrastructure for textiles and clothing. The applications are being examined,” he said.
He made this announcement at the 25th year celebrations of the Tirupur Exporters’ Association. He also said that a textile venture capital fund would be set up with an initial capital of Rs.35 crore. The Government is providing a subsidy of Rs.70 crore for setting up of a textile processing park and an allocation of Rs.500 crore has been made for this initiative, Gangwar said.
Speaking on the National Textile Policy, he said that a meeting of textile ministers of all States would be convened by the end of September and a decision finalised.
Business Line
