Madhya Pradesh: CM Kamal Nath brings investment worth Rs 3,250 crore in textile sector

BHOPAL: Textile major Trident announced an investment of Rs 3000 crore in Madhya Pradesh in ‘Investment Round Table Conference’ with CM Kamal Nath in New Delhi on Friday. Two other companies too announced investment of Rs 250 crores. These investments are expected to give employment to 14,000 people.

CM held separate discussions with industrialists from textile and garments sector and later with food and processing sector investors.

CM said that immediate clearances and licenses will be provided for at least 40 services within 7 working days. Deemed Approval provided by Invest Portal will be considered as actual approval that will have legal sanctity too. The garment units outside industrial parks will also be eligible for incentives offered under the garment sector package.

CM announced that incentives on expansion of investment will now be applicable for investment of Rs 5 crore, which was Rs 10 crore earlier.

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A 60 acre Plug and Play industrial park will be developed in Badiya Khedi in Sehore district which is only 28 KMs from Bhopal airport and close to Bhopal-Indore highway. He urged the private developers to come forward for the development of garment park on PPP Model at Barlai, 20 km. from Indore on way to Dewas.

The State Government is committed to provide more incentives for manufacturing of textile and apparels from organic cotton, said CM. A committee headed by Chief Secretary involving stakeholders from cotton farmers and manufacturers has been set up to promote use of cotton for garments/apparel.

State Government will design a policy for incentivizing composite and integrated units in textile sector.

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Mandi Act to be amended

CM announced that Mandi Act will be amended to keep abreast with changing agri-marketing scenario so that farmers get better

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