Poor response from investors has led to the Central Government withdrawing its proposal for setting up a textile park in Kalaburagi, Karnataka.
As per The Hindu report, the proposal for setting up the park was mooted a decade ago. The State government requested the Centre to continue the work on the park but the latter rejected the request and asked the State to refund 1.85 crore, which was released for infrastructure work at the textile park.
A few days ago, Shrimant B Patil, State Minister for Handlooms and Textiles met Smriti Irani, Union Textile Minister and sought the Centre’s support to establish the park. Patil said many subsidies and incentives had been offered to investors under the new textile policy of the State government.
Congress Leader, Priyank Kharge also urged the government to establish a special purpose vehicle (SPV) and invest in it to set up the park.
