In a major boost to the textile industry, the Gujarat Government has announced establishment of two mega textile parks. This was announced by Deputy Chief Minister Nitin Patel during his budget speech in the State Assembly yesterday.
AIR correspondent reports that setting up of these two parks will help to enable forward and backward integration in the sector.
These two mega textile parks in Gujarat will be set up as part of an announcement made in the Union Budget for setting up of seven mega textile parks.
According to sources, this will help in making the industry globally competitive. Mega Investment Textile Parks will not just boost exports but at the back-end, it will also help generate more employment.
Co-Chairman of ASSOCHAM Gujarat State Council Chintan Thaker said that a single cluster will help in bringing more investments in the textile sector.
The allocation of 1,500 crore rupees in Gujarat budget for providing subsidies to the textile industries will also boost the competitiveness of the domestic manufacturers.