Textile ministry offers sops to processing parks in A'bad

Citing low penetration in textile processing as a deterrent to growth, Union minister for textiles Shankersinh Vaghela stressed the need for more processing parks in Ahmedabad.

"We are ready to offer several benefits to anybody who applies for a textile processing park in the periphery of Ahmedabad. The region has a potential of doing brisk business in textile processing since it is an integrated industry in Gujarat. On an investment of Rs 100 crore, Rs 40 crore will be offered as subsidy. The government will also help in setting up special purpose vehicles with companies like IL&FS," Vaghela said.

He was addressing 'Tex-Fusion 2008', a buyer-seller meet that began in Ahmedabad on Tuesday.

Organised jointly by the Powerloom Development and Export Promotion Council (PDEXCIL), the regional office of textile commissioner and Maskati Cloth Market Association (MCMA), the two-day meet has seen as many as 40 exhibitors from the industry setting up stalls.

"The purpose of the event is to promote the textile products of Ahmedabad, which are basically cotton and blended fabrics and made-ups, for the benefit of garment manufacturers, exporters, traders, buying houses, designers, processors and other sectors of the textile industry," said Upendra Dalal, honorary secretary of MCMA.

Expected to generate gross sales of Rs 1,000 crore in two days, the meet will provide a platform for textile players to focus on exports, garments and value-added fabrics, he added.