Draft Textile Policy Gujarat 2024 - Key Provisions
The state government of Gujarat, India, is currently in the process of finalizing its textile policy for the next five years The current textile policy is going to end this month dated 31/12/2023, and the state government is expected to launch its new textile policy in new year 2024, just before the Vibrant Gujarat Global Summit, scheduled to take place from January 10-12, 2024.
These encompass activities within the textile value chain such as
- Ginning & pressing
- Spinning,
- Weaving,
- Dyeing & processing,
- Knitting,
- Machine carpeting,
- Machine embroidery,
- Made-ups,
- Technical textiles, and various other associated processes and activities
Benefits are likely to be declared (Draft Key Provisions)
- 30% capital subsidy (max 6% of gross financial capital investments)
- 7% interest subsidy for 10 years from first disbursement of Term Loan.
- 25% financial assistance to Textile parks on capital expenditure for common facilities and infrastructure.
- Electricity subsidy of Rs. 2 per unit for seven years
- Assistance for energy conservation, water conservation, environment conservation, technology upgrades and adoption of green practices.