Gujarat Govt announces 1 year extension of textile policy to help MSMEs

New Delhi, Sept 5 (KNN) In response to the repeated requests of the textile sector comprising of over 60 per cent of the Micro, Small and Medium Enterprises (MSMEs) in the state of Gujarat, the state government has finally announced an extension of the existing textile policy of 2012.

Talking to KNN, Dharmendra Joshi, Past President of Gujarat Chamber of Commerce & Industry informed that the decision is a welcoming move and the industry for long have been demanding the same.

Joshi said that the state government is yet to introduce a new policy for the textile sector and the 2012 textile policy was to expire on September 4, 2017. With expiration of the older policy and absence of a new policy the sector would have to suffer a lot of problems. Therefore an extension for one more year is a good step taken by the government.

Explaining further, Joshi said that the various incentives and subsidies that are given under the 2012’s textile policy that was introduced by the then Chief Minister of Gujarat Narendra Modi helped Gujarat develop as the cotton and textile capital in the country.

He informed that his association along with other industry bodies were in constant dialogue with the government so that the industry’s functioning doesn’t get tampered because of a sudden vacuum of the framework for the sector.

Under the announced extension, the policy will remain into effect till September of 2018. (KNN/ DA)