Bengaluru, Nov 4 (KNN) The Karnataka textile sector attracted Rs 4,292 crore in investments at the ongoing Global Investors Meet (GIM) in Bengaluru , according to a report in The New Indian Express.

The textile sector attracted investments from the state players with Manjushree Garments committing Rs 340 crore and Shahi Exports Rs 150 crore. The sector is expected to generate 36,457 jobs in the coming years.

Speaking on the occasion, Department secretary Pankaj Kumar Pandey said “initiatives such as 5 per cent interest subsidy to mega industries and MSMEs, incentives and concessions up to 100 per cent, enhancement of wage subsidy from Rs 1,500 to Rs 3,000 in Kalyana Karnataka region, and Rs 1,000 to Rs 2,000 in the rest of the state, contributed to its success.”

The state is in the process to set up four textile parks based on PPP model in areas beyond Bengaluru, for which tenders will be called shortly. “The central government is expected to grant one of seven mega parks to Karnataka that may come up either at Kalaburagi or Vijayapura,” Pandey said.

T Ramalingam, an expert on the subject while appreciating the government for its policy, observed that the industry has a long way to go as all machinery, including sewing and knitting machines, are imported.

“We are missing the bus on technological improvement, and are not using artificial intelligence to develop the textile sector. None of the textile machines, except the spinning ones from Coimbatore, are made in India, and we are paying huge amounts to import them. Unfortunately, all raw materials, especially dyes, are from China,” he said.

“We are only talking about textiles when major exporters from Europe are setting up their backend offices in Bengaluru.”Naseer Humayun, another expert, observed that it is only the garment industry that gives back 30 per cent of its revenue to the communities, and hoped the state takes a big leap in becoming the garment capital of the country.

The Global Investors’ meet will conclude today in Bengaluru.  (KNN Bureau)