Gujarat hopes extended textile policy to attract Rs 5000 cr

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The Gujarat government feels that its recent decision to extend its textile policy by a year will attract Rs 5,000 crore of more investment in related sectors. The policy has attracted around Rs 20,000 crore of investment and created 2.5 million jobs, half of which was for rural women, since it was implemented in 2013, the government
claims.

Apart from setting up of units in other segments,such as technical textiles, silk, jute and wool, the extension is expected to add 300 ginning units to the existing 1,400 and double the spinning capacity to four million a year,according to a report in leading business daily.

Units are shifting from Tamil Nadu, Telangana and Maharashtra and the extension would see a further boost in fresh investment, according to Siddhartha Rajagopal, executive director, Cotton Textiles Export Promotion Council. Gujarat has been the largest producer (33 per cent) and exporter (60 per cent) of cotton in the country