Odisha’s new Apparel Policy to attract investors

The Odisha Apparel Policy recently introduced by the state is a welcome gesture to attract textile investors from various clusters like Tiruppur for setting up industries in the state, said a top official from the Odisha Cooperative Spinning Mills Federation Limited (Spinfed Odisha). Companies investing in Odisha will also receive various incentives.

Two apparel parks will also be established near Bhubaneswar in Odisha as per the policy, Narayan Sahu, Deputy General Manager of Spinfed Odisha told a leading daily while on a visit to Tiruppur. He also said that standalone production units for apparel employing a minimum of 200 workers will get an incentive of Rs 1,500 per worker per month for 36 months. The companies can also avail interest subsidies.

Capital grants amounting to 20 per cent of the project cost would also be provided to the companies setting up units within the upcoming apparel parks, said Sahu.

The Odisha Apparel Policy is the first of its kind for apparel by any state in India.

Source: Fibre2Fashion