MUMBAI: On Tuesday, the state cabinet approved a new textile industry policy that will, according to officials, expand the capacity for processing cotton from 30% to 80% in five years, draw in investment of Rs 25,000 crore, and generate five lakh employment.
The goal is to give traditional textile weavers incentives. Each year, festival allowances of Rs 10,000 for certified and registered male weavers and Rs 15,000 for registered female weavers will be given. An official stated that the policy aims to bring in social security protection in the form of a pension plan.
The textiles and silks commissionsi-onerate will be created by merging the textiles commissionerate and silk directorate. According to officials, three businesses would be merged to form the Maharashtra State Textile Development Corporation in order to advance the sector.
