“The PHD Chamber of Commerce and Industry (PHDCCI) applaud the Gujarat Government for launching the visionary Textile Policy 2024. This comprehensive policy has the potential to significantly boost the growth and employment generation capacity of the textile sector in Gujarat, and serve as a model for other textile hubs across India.
The policy takes a holistic approach, addressing the entire textile value chain from raw materials to finished products. This ensures that all segments of the industry benefit and creates a more robust ecosystem. However if Man-made yarn manufacturing could be included in the policy, it will be good fillip to overall textile industry.
The range of financial incentives, including capital and interest subsidies, power tariff reductions, and payroll assistance, will significantly reduce the cost of doing business for textile companies, making them more competitive and encouraging expansion.
The policy’s focus on supporting Micro, Small and Medium Enterprises (MSMEs) and self-help groups (SHGs) is commendable. The dedicated support for female workers through higher payroll assistance is a positive step towards gender inclusivity in the workforce.
The emphasis on quality certifications, energy and water conservation, and technology acquisition is crucial for the long-term sustainability and modernization of the textile sector.
The PHDCCI believes that the Gujarat Textile Policy 2024 will:
• Attract significant investments into the state’s textile sector
• Create new job opportunities, especially for women
• Enhance the competitiveness of Gujarat’s textile products in the global market
• Drive innovation and adoption of advanced technologies in the industry
We urge the Gujarat Government to ensure the smooth and efficient implementation of this policy to maximize its benefits for the textile sector and the overall economic development of the state”.
