The Union government will announce around 25 more textile parks shortly to provide high quality infrastructure for the textiles and clothing sector, according to Union Minister of State for Textiles (Independent charge) Santosh Kumar Gangwar.

“These 25 projects are to be from the 49 proposals now before the Ministry, seeking approvals for setting up the textile parks,” he said at a function held here on Sunday to mark the beginning of the silver jubilee of the Tirupur Exporters Association (TEA).

The Ministry would focus on extension of support for market diversification. The government’s decision to increase the duty-free entitlement for import of trimmings, embellishments and a few other items would lead to an additional Rs. 10,000 crore of value-added garments export from the country.

To provide equity for start-up enterprises, the government would extend venture capital fund in association with the Small Industries Development Bank of India, he said.

The Minister hinted that a meeting of the State Textiles Ministers would be convened shortly before the finalisation of the National Textile Policy, the draft of which was uploaded on the Ministry’s website for seeking the views of the stakeholders.

Source:- thehindu.com