News & Insights | Textile Industry

Gujarat’s Textile Projects Worth Rs 1,000 Crore Await New Policy

Published: February 21, 2024
Author: TEXTILE VALUE CHAIN

Textile projects valued at approximately Rs 1,000 crore in Gujarat are currently in a state of limbo as the state has yet to announce its new textile policy after the expiration of the previous one on Dec 31, 2023. Among these projects, roughly Rs 400 crore worth consists of completed ventures awaiting the green light to commence production under the new policy framework.

Industry sources reveal that the delay in the policy announcement is impeding progress in the textile sector, with investors hesitant to move forward without clarity on incentives and support measures. The textile task force of the Gujarat Chamber of Commerce and Industry (GCCI) has emphasised the need for a competitive policy to sustain Gujarat’s standing as a textile hub amidst stiff competition from states with more attractive policies.

The industry is calling for swift action to prevent further capital flight to other states with more favourable textile policies, stressing the urgency of a competitive policy to stimulate investments and growth in Gujarat’s textile sector.

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