On Wednesday, the West Bengal Hosiery Association (WBHA) announced that it expects an investment of Rs 400 crore towards capacity building of hosiery parks in the state by the next fiscal year. This news was revealed during a session on manufacturing industries, particularly MSMEs and textiles, at the seventh Bengal Global Business Summit.
Pradeep Arora, Secretary of WBHA, highlighted this investment’s objective: to add 20 lakh sq ft of operational area to the hosiery parks. Emphasizing the significance of Medium and Small Scale Industries (MSMEs) in rural areas, Chief Secretary H K Dwivedi stressed the need for robust support mechanisms such as improved access to credit, simplified compliance obligations, and expedited project approvals.
Dwivedi mentioned that the state government is actively addressing the challenges MSMEs face by organizing stakeholder consultation meetings at the district level, often attended by Chief Minister Mamata Banerjee and representatives of district chambers of commerce. He urged the chambers of commerce to collaborate closely with the government to identify and tackle obstacles hindering the growth of MSMEs.
N G Khaitan, president of the Bharat Chamber, commended the government’s efforts in facilitating land allotments to investors within a 15-day timeframe. Khaitan also praised the government’s initiatives in promoting the garment and hosiery industry by establishing specialized industrial parks.
Vinod Kumar Gupta, president of WBHA, emphasized the pivotal role of the textiles sector in generating employment, highlighting that it is India’s second-largest employment generator after agriculture. He commended the West Bengal Textile Incentive Scheme 2022, lauding it as a flagship policy that optimizes resource utilization, stimulates new employment opportunities, and expands operations, positioning the state as a prime investment destination in the textile sector.
Overall, these developments indicate the state government’s commitment to supporting the growth and development of MSMEs and the textile industry in West Bengal.
