For more information visit our website www.ripplesadvisory.com and subscribe us to get a Free Trial Call.

The state government of Haryana has drafted a new textile policy which provides fiscal incentives for setting up of new units and for modernisation of the existing textile industry in the state. The policy aims to make Haryana a global hub of textile manufacturing by attracting investment to the tune of Rs 5,000 crore, and thereby creating 50,000 new jobs.

The draft policy, which has been put by the state government in public domain, contains provisions for infrastructure augmentation, setting up of textile parks and facilities for skill training. 

As per the draft policy, a 10 % capital subsidy will be available for the eligible new textile projects across the state. Further, HSIIDC will offer industrial plots for a lease of 33 years with 5 per cent increase in annual lease rent for those enterprises setting up new project.