Gujarat Textile Policy 2024

The Gujarat Textile Policy 2024 is a strategic initiative by the Government of Gujarat to strengthen and modernize the textile sector, one of the state’s most significant industries. This policy is aimed at enhancing competitiveness, encouraging innovation, and promoting sustainable practices in textile production and exports.

Key Objectives:

1. Promote Modernization and Technology Upgradation: Encourage the use of advanced machinery and technology to improve productivity and efficiency.
2. Boost Investments: Attract domestic and foreign investments in the textile sector by offering financial incentives, subsidies, and infrastructure support.
3. Sustainability and Eco-Friendly Practices: Promote the use of sustainable processes, eco-friendly materials, and green technologies to reduce the environmental impact of textile manufacturing.
4. Employment Generation: Create new job opportunities by supporting the establishment of new textile units and the expansion of existing ones, particularly in rural areas.
5. Skill Development: Provide training programs to enhance the skills of the workforce, with a focus on technological advancements and sustainable practices.
6. Export Promotion: Strengthen the export potential of Gujarat’s textile products by offering incentives and enhancing the quality of textile products to meet international standards.

Incentives and Support:

• Subsidies for New Units: Financial support for setting up new textile manufacturing units and modernizing existing ones.
• Power Tariff Concessions: Reduced electricity rates for textile companies to lower production costs.
• Interest Subsidy: Lower interest rates on loans taken for technological upgrades or setting up new textile units.
• Infrastructure Development: Special Textile Parks and Zones with modern infrastructure to facilitate growth and attract investors.
• Support for MSMEs: Focused incentives and subsidies for Micro, Small, and Medium Enterprises (MSMEs) within the textile sector.

The Gujarat Textile Policy 2024 aims to position the state as a global leader in textile manufacturing, driving growth, innovation, and sustainability, while creating employment opportunities and enhancing exports.