Hyderabad, Oct 3 (KNN) The government is drafting a new textile policy which will incentivize investment in the industry, Minister of Textile K S Rao has said.
Addressing a FICCI seminar earlier this week, he proposed to set up a single window clearance to facilitate quick approvals for new textile units.
"A separate wing or division would be set up under the joint secretary level officer for single window clearance. The ministry itself will pursue the matter and instead of the industry players the division will go to various departments for the approvals,” Rao said.
He further said that setting up of the division will take some time since it has to be approved by several ministries and the Planning Commission.
Rao hoped that by end of this financial year, the division would come into force.
Regarding the revised technology upgradation fund scheme (TUFS), the minister also said the notification regarding the extension of benefits and revised TUFS was likely to be announced on October-9.
The new notification would clarify the extension of TUFS, which would continue during the 12th plan period. About Rs 1,000 crore of funds, which have been pending from April 2013, would also be released, the minister said.
Funds of Rs 11,950 crore were allocated for the 12th plan period. National textile policy would be stable in tariffs, wherein various schemes will be continued apart from ensuring favourable measure to boost exports, the minister said.
Further, in order to boost more R&D activities, the Textile Minister urged the Association of Textile Industries to take up research on that front and said that the government would provide 50 per cent funds if they came forward with the proposal.
He also announced that his Ministry would grant Rs 10 crore to the textile industry if it came out with a plan to impart training to fresh recruits in view of the acute shortage of skilled manpower.