State to set up five new textile parks

BANGALORE: In order to attract more investments in the textile industry, the state government has decided to set up five new textile parks in different parts of the state.These parks which will have all facilities will come up at Belgaum, Tumkur, Chikkaballapur, Chitradurga and Kolar districts said Textile Minister Varthur Prakash in his maiden press conference.This apart, the state government is also mulling to revive five sick spinning mills in the state. We are giving Re1 subsidy on every unit of power consumed by 20 HP power looms. This facility will be extended to these spinning mills in order to reduce their financial burden, Parkash added.The units that are being set up in the government textile parks will also get the subsidy benefit, the minister said adding that several private textile players  evincing interest to set up their shops in the state owing to pro-industry policy adopted by the state government. About Rs 5,000 crore investment have already been received by the state over the last three years, the textile minister claimed.To a question, Prakash said that the work on Gulbarga textile parks will start soon as the Centre had given permission recently. The Union government is expected to clear the state’s proposal to set up a textile park at Bellary in March 2012. These two parks were announced last year.