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Haryana approves new textile policy to attract investment

A new Textile Policy, called AatmaNirbhar 2022-25 approved by India’s Haryana state cabinet on December 1, to attract investment worth ₹4,000 crore and generate 2 lakh jobs.

Haryana approves new textile policy to attract investment
Figure: The estimated budget for the policy is ₹1,500 crore with capping for capital incentive cases.

The new policy will replace the Haryana Textile Policy 2019 and will promote value-added production with suitable policy interventions to harness the potential of the entire textile value chain in the state.

The estimated budget for the policy is ₹1,500 crore with capping for capital incentive cases.

Along with that, the policy aims at fostering an ecosystem of self-reliance and innovation by offering a robust incentive framework for backward integration, enhanced production of man-made fibres, promoting circular economy, attracting investments in weaving, knitting, processing, ready-made garments, apparel making, technical textiles, integrated units, textile parks and textile clusters.

It will emphasize on value addition, employment generation and productivity enhancement, and is in line with the ‘5F’ vision of Prime Minister Narendra Modi.

The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This integrated vision will help furthering the growth of textile sector in the economy.

According to Narendra Modi, “No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs.”

It also provides an energy for diversification of Haryana’s textile industry to the ‘B’, ‘C’ and ‘D’ category blocks and on the promotion of the sunrise sector within textile like- technical textiles, circular economy, open end spinning etc and support setting up textile parks in the state.

If anyone has any feedback or input regarding the published news, please contact: info@textiletoday.com.bd

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