CM Kamal Nath chairs round table conference with textile, apparel industry

Bhopal: Industries with an investment lesser than Rs. 100 crore but employing more than 500 people will have a status mega industry and will be eligible for customized package in Madhya Pradesh.
In order to boost investments, immediate clearances and licenses will be provided for at least 40 services within 7 working days. Deemed Approval provided by Invest Portal will be considered at par with actual approval/ clearances being provided in the current scenario and will have legal sanctity.
The Garment units outside the industrial parks will be eligible for incentives offered under the garment sector package.
The Chief Minister Kamal Nath informed that major policy initiatives to the major players of textile and apparel sectors at the round table conference at New Delhi on Friday.
The Chief Minister informed that expansion of investment to the tune of more than Rs. 5 Crore will be eligible for incentives now. So far, the provision was that only 30% of original investment, which has to be not less than Rs. 10 crore was eligible for incentives. This will encourage expansion plans.
He said that Plug and play industrial park will be developed in Badiya Khedi (Sehore) in an area admeasuring 60 acres which is only 28 KMs from Bhopal airport and close to Bhopal-Indore Hihgway. He urged the private developers to come forward for the development of garment park on PPP Model at Barlai, 20 km. from Indore on way to Dewas.
The State Government is committed to provide more incentives for manufacturing of textile and apparels from organic cotton, he added.
A committee headed by Chief Secretary involving stakeholders from cotton farmers and manufacturers has been set up to promote use of cotton for garments/apparel.
The Chief Minister said that the State Government will design a policy for incentivizing composite and integrated units in textile sector.
The Chief Minister said that Madhya Pradesh is the most favourable state for industries. He said that the global economy is facing many challenges and the industry sector has to adopt and adapt to the changes taking place at global and local levels. He said that India’s 60 percent market is in Madhya Pradesh. He said that the state government is striving to make Madhya Pradesh a hub of food processing and horticulture, which will boost its economy.
Encouraged by the industry friendly approach of the Chief Minister, major players of textile sector announced investments measuring Rs. 3250 crores. This will offer jobs to 14 thousand people of the state.
Announcing an investment of Rs. 3000 crore in Bhopal, Chairman of Trident, Rajendra Gupta said that this will provide employment to 10 thousand people. Managing Director of Gokaldas Export Company, Shiva Ganapathi said that Rs 50 crore will be invested in Bhopal. This investment will provide employment to three thousand people. Similarly, General Manager of Mayur Uniquoters, Swapnil Vyas informed about investment of Rs. 150 crores in Gwalior. One thousand people will get employment.
Managing Director of Syntex Company, Shreyaskar Chaudhary informed that in MSME textile park will be set up in Indore with an investment of 100 crores with the cooperation from Chairman of Apparel Export Promotion Council A Shaktivel.