Madhya Pradesh Government has said that the state has landed investment in textile and garment sectors to the tune of Rs 15,000 crore in the last two years.
It has been said that in the state housing more than 25 mega and large-scale textile companies, close to 15 textile and garment units have set up facilities at Ujjain, Dhar, Indore and Bhopal among other areas in the last two years.
Best Corporation Ltd, Gokaldas Exports, New Zeel Fashion Wear Pvt Ltd, Biba and Yashoda Linen Yarn Ltd among others have set up new units in the state.
Media reports quoted Manish Singh, Principal Secretary, Industrial policy and investment promotion department saying that the state has received encouraging investments in textile and garments in the past two years. Close to 15 new textile and garment units have come up in different parts of the state and an investment of Rs 15,000 crore has been pumped in the last two years.
It is mainly owing to the availability of raw land bank and higher investment promotion assistance for setting up factories in far-flung areas. Under Industrial Promotion Policy of Madhya Pradesh (IPP) 2014, the state is offering 1.2 times over and above the basic Investment Promotion Assistance to industries coming in locations where the development of industries is low.
The senior official further added that the textiles and garment sector is emerging big in the state. The conducive industrial ecosystem, law and order situation and the political economy of Madhya Pradesh are big advantages for the industry.
