Maharashtra ambitious Textiles Policy to attract meaningful investments
11 November 2023, Mumbai
The launch of ‘Textiles Policy 2023–28' marks a significant milestone in Maharashtra's progressive journey, with an ambitious goal of attracting global investments worth Rs 25,000 crore and creating jobs for over 5 lakh people, particularly women. India is currently among the top five global exporters across categories, including natural fibers, MMF, spun yarn, filament yarn, woven fabric, and home textiles.
Nuanced picture
Both the central and state governments have launched progressive, industry-specific schemes that showcase India's technological advancements and commitment to sustainability.
Various schemes and incentives have been introduced to promote the sector, including the Amended Technology Upgradation Fund Scheme (ATUFS), the Production-Linked Incentive (PLI) Scheme for man-made fibers and technical textiles, the National Technical Textile Mission, and the PM MITRA scheme.
These initiatives have not only provided financial assistance but also encouraged investments in modern technology and infrastructure, thereby improving overall competitiveness.
