Bhubaneswar: In an effort to attract investment to the Odisha textile sector, the State Industry Department has planned a meeting with representatives from the industry on October 25.
Senior center and state officials will also attend meetings.
The state government has taken this initiative to participate in the Mega Prime Minister’s Integrated Textile Scheme (PM-Mitra) in which seven textile parks throughout the country will be built in five years to attract foreign direct investment in this sector.
The number of Rs 4,445 Crore has been approved for the scheme.
The state will submit a formal proposal, trying to build a mega textile park in the state, after the center told the scheme, issued a detailed guideline.
“Considering the great potential of Odisha for the growth of the textile industry, the state has registered it as the focus sector,” said an industrial department official.
The state plans to establish two textile parks with public facilities and infrastructure to support the entire value chain and attract investment.
Under the PM-partner scheme, the center has convinced to provide capital support of 500 crore or 30 percent of the project costs (which is the highest) to develop general infrastructure in the proposed textile park.