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MAHARASHTRA GOVT ATTRACTS INVESTMENTS IN T&A Sector

The new textile policy of Maharashtra was unveiled by Honourable Chief Minister Shri Devendra Fadnavis recently. The policy is a new wave in textile sector of Maharashtra and aims to create over 10 lakh jobs in the next five years and double the farmers’ income by the year 2023. With several investor friendly benefits especially in terms of power subsidies, it is expected that textile sector would attract worth Rs.36,000 cr during this period. Further, there is emphasis on invigorating the garment, knitting and hosiery sector, which would benefit the women who form a major part of workers in the state. The policy initiatives aim to strengthen the cotton sector and rejuvenate the silk and wool sector. The highlight of the policy is the innovative approach to promote non-conventional yarn and green energy in the textile sector. Under this, state plans to come up with its first textile university and set-up world class R&D units within state agriculture universities in collaboration with various centre of excellence across the country.

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