Manufacturing News

The facility is expected to produce between 600,000 and 700,000 yards of fabric and garment accessories per month during its initial phase.

OSMA pointed out that after the Centre removed the 11 % import duty on cotton on 31 May, cotton prices fell from about Rs 195 per kg to Rs 172 per kg, a decline of nearly Rs 23 per kg. However, despite the sharp fall in cotton prices, spinning mills have reduced Comber Noil prices by only Rs 10-15 per kg and OE mills demand a further reduction.

The policy identifies textiles, technical textiles, footwear and textile waste recycling among its key thrust sectors and sets an ambitious target of attracting Rs. 10 lakh crore (US $105 billion) in investments over the next five years.

It is expected to support MSMEs across Gaya, Aurangabad, Nawada, Nalanda, Jehanabad and Munger districts by providing access to advanced manufacturing technologies, skilled manpower and technical support services.

Sources indicated that the government remains confident of fully utilising the entire incentive outlay by the conclusion of the programme and is also open to increasing the incentive pool if required.

The integrated manufacturing facility will include weaving, dyeing and finishing operations. Approximately 70% of production will be exported to international markets, while the remaining output will be supplied to the domestic market.