The Ministry of Textiles, Maharashtra, has received several proposals since it implemented a new textile policy in March 2012.
The state had received 411 proposals with an investment of Rs 3,834 crore, since March 2012. The policy lays emphasis on setting up processing units in cotton-producing areas, expansion of the industry and growth of employment. It promises 10 per cent subsidy on capital investment and an interest subsidy of 12.5 per cent to new textile units in Vidarbha, Marathwada and North Maharashtra. It estimates to attract an investment of Rs 40,000 crore by 2017. However, work has started on about 20 per cent of the proposals. Approvals are pending for 18 spinning mills in Nagpur, Amravati and Akola regions of Vidarbha which will bring investments of Rs 2,000 crore.