Punjab offers incentives for new textile units

July 17th, 2011 - 9:40 pm ICT by IANS  

Chandigarh, July 17 (IANS) To attract textile companies to set up units in the cotton belt of southwest Punjab, the state government Sunday announced a comprehensive package of incentives for them.

Industries Minister Tikshan Sud said that the policy has been framed to attract leading textile brand names to set up their units in the Textile Park comming up in the Malwa belt.

The area, adjoining the districts of Bathinda, Sangrur, Ferozepur and Mansa, is well-known for cotton cultivation.

“The main component of package is 50 percent exemption from market fee and cess on purchase of cotton. This concession would be available after the commencement of production of the units up to fabric manufacturing,” Sud said.

He said that the investment made in the area would benefit thousands of farmers of the area who will be able to get better prices for their cotton crop.

“Another major incentive for the textile industry is allowing 10 percent land of the total land acquired by the promoter for such projects for commercial use without payment of any change of land use, external development charges and license fee charges,” Sud added.

He said that the Punjab government was also allowing the units to set up captive power plants for self use.

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