DW BUREAU / Chandigarh

Buoyed by overwhelming response from entrepreneurs across the state, the Haryana government has decided to extend the Atma Nirbhar Textile Policy 2022-25 along with its subsequent schemes by one year till December 18, 2026.

Additionally, the government has decided to remove the cap on the number of cases under the Capital Investment Subsidy for Textile Units scheme as part of the policy. A decision to this effect was taken in the meeting of the state Cabinet held under the chairmanship of Chief Minister Nayab Singh Saini here on Tuesday, an official statement said.

The "Haryana Atma Nirbhar Textile Policy 2022-25" was notified with a targeted investment of Rs 4,000 crore and targeted employment generation of 20,000 persons for a period of three years.

The policy aims to bolster the textile sector by enhancing entrepreneurial competitiveness through the development of modern infrastructure, the adoption of cutting-edge technologies, and the promotion of efficient and sustainable production practices. The textile policy is in line with the 5F vision of the Government of India - Farm to Fiber to Factory to Fashion to Foreign, the statement said. To provide financial assistance under the Haryana Atma Nirbhar Textile Policy 2022-25, many incentive schemes were formulated including Capital Investment Subsidy for Textile Units, Interest Subsidy Scheme, Investment Subsidy in lieu of Net SGST.

The Haryana Atma Nirbhar Textile Policy 2022-25 has been highly successful among state entrepreneurs and has attracted investments in multiple unique projects across the textile sector.

Since the time of notification, till date 354 applications have been received across all the schemes, out of which 108 applications with grant-in-aid amounting to Rs 367.51 crore have already been approved, it said.

The removal of the cap on the number of cases eligible for incentives under the Capital Investment Subsidy for Textile Units Scheme will significantly contribute to achieving the key objective of attracting investments worth Rs 4,000 crore and generating employment for 20,000 individuals, the statement said.

(editor@dailyworld.in)