Maharashtra has prolonged the current textile policy for the years 2018 through 2023 while considering the proposed new textile policy. Until the new one is approved, it will continue to be in effect.
In this regard, the State Government has released a notification.The state’s textile sector is dissatisfied with the delay in finalising the new textile policy. The industry has expressed a number of problems regarding the current policy and demanded revisions, which must now wait.
A draught of the new textile policy has reportedly been created by the state government and presented to the chief minister and deputy chief minister.
The policy is likely to include recommendations for the divisive topic of subsidies for the construction of new units, the expansion of existing ones, and for electricity supply. A 23-member committee has been established by the State Government to develop the new policy. Additionally, the committee has been tasked with investigating the successes and shortcomings of the 2018-23 policy.
It is important to note that Maharashtra contributes to almost half of the nation’s textile industry. The 2018–23 policy sought to attract Rs 36,000 crore in investment while creating 10 lakh new jobs in the industry.
