Gujarat rolls out Textile Policy 2024, to aid 5500 industrial units

Gandhinagar, Oct 15 (IANS) Gujarat government distributed over Rs 1,100 crore in aid to 5,500 eligible industrial units and issued letters of intent for quarry leases valued at Rs 699 crore.

Speaking at the Industrial Entrepreneurship Day event held at Mahatma Mandir in Gandhinagar, Chief Minister Bhupendra Patel highlighted: "Prime Minister Narendra Modi’s vision during his tenure as Gujarat’s Chief Minister when he introduced the Five-F Formula (Farm to Fiber, Fiber to Fabric, Fabric to Fashion, and Fashion to Foreign) under the 2012 Textile Policy, positioning Gujarat as a leader in the sector. "

This policy attracted Rs 35,000 crore in investments, created over 2.5 lakh jobs, and established a robust textile ecosystem with more than 35 lakh spindles.

The event, which saw the participation of top officials, including the Chief Secretary, industry leaders, and entrepreneurs, marked another milestone in Gujarat’s industrial development journey.

"The new Textile Policy 2024 aims further to bolster Gujarat’s status as a textile hub, focusing on key areas such as garments, apparel, and technical textiles. The policy also emphasises women's empowerment through self-help groups (SHGs) in rural and urban areas, providing increased employment opportunities and income growth," he said.

The Chief Minister also announced infrastructure upgrades worth Rs 418 crore, including water supply and road improvements in industrial zones, and inaugurated projects worth Rs 146 crore.

He projected that the new policy would attract approximately Rs 30,000 crore in investments and create significant job opportunities, particularly for young people, women, and cotton farmers.

Industry Minister Balvantsinh Rajput and Minister of State Harsh Sanghavi praised the government’s initiatives, noting that Gujarat has become an industrial growth model.

With Gujarat contributing 18 per cent to the nation’s industrial production and 33 per cent to exports in 2022-23, Rajput stated that the state plays a vital role in India's economic progress.

--IANS

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