To boost the textile value chain in Gujarat, the state government has announced a scheme to provide interest and power tariff subsidy along with other incentives for specific sectors in the textile industry. For Micro, Small and Medium Enterprises (MSME) units, the subsidy would be 6%.
Whereas for large units, it would range from 4 to 6% depending upon the number of people employed. The scheme provides interest subsidy of up to Rs.20 crore per year for a period of five years.
The scheme for assistance to strengthen specific sectors in the Textile Value Chain would apply to new as well as the expansion of existing units, a government resolution said. Read More