Odisha Government is eyeing huge investments in the apparel and textile industry which is a focus area for the ‘Make in Odisha (MIO) Conclave’ 2022, Odisha’s flagship global investors’ summit, scheduled from 30th November to 4th December 2022 at Bhubaneswar.
Hemant Sharma, Industry Secretary of the state said that for attracting investment in the textile and apparel industry, the state has ensured ready availability of developed land with adequate infrastructure in several textile parks, skilled manpower by setting up centres of excellence and IIT, along with creation of new mega parks, lowering the cost of production and logistics and encouraging new entrants through start-ups.
The state also has a lucrative apparel policy as investors can get a capital grant of 20 per cent for project cost up to Rs. 20 crore and interest-free loan up to 10 per cent with a maximum limit of Rs. 10 crore.
The event will have two dedicated sessions on ‘Textiles and Apparels’ and ‘Sourcing of Handlooms and Handicrafts’ which are being organised by Department of Handloom, Textiles and Handicrafts to explore potential interventions required in terms of infrastructure development, skilling, promotion, as well as policy initiatives to promote the sector in the state.
It can be mentioned here that despite the best efforts of the state, so far it has only just a few organised and big players in garment manufacturing.
