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| Establishment of Textile Park in Jammu and Kashmir to boost its textile industry | | |
Jasmmu 25 Aug: The decision of the state Government to establish a Textile Park on the lines of Special Economic Zones (SEZ) likely to augment Jammu and Kashmir textile industry.
The favorable climatic conditions and incentives extended by the State Government like subsidized power, land at cheap rates, and exemption from import - export duties are expected to encourage entrepreneurs. Moreover, the cotton and acrylic yarn needs specific temperature and moisturizer at various points of processing. Considering all such factors, the conditions are favorable in state.
Chenab Textile Mill (CTM) set up by the Birla group, one of the leading suppliers in the synthetic dyed yarns is providing over the years employment to the youth. The looms of CTM produce around 103,000 meters of yarn per year generating a turn over of Rs 350 crores. Providing employment to nearly 500 workers, Chenab plans to establish 30,000 more spindles to earn revenue.
According to Chenab, it is hard to run this industry being at the extreme corner, but the co-operation between textile mills and government is responsible for the smooth functioning of this industry.
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