Three textile parks to be set up in state

BOOST TEXTILE Punjab UNION APPEALS TO THE MINISTER OF RAISING THE TAX ON COTTON

THREE TEXTILE parks will be established in Punjab to attract an investment of Rs 1.404 crore. Stating this at a press conference today, the Union Textiles Minister Shankersinh Vaghela said the parks would be established in Barnala, Nawanshahr and Ludhiana in less than a year under the integrated textile parks ( SITP).

"These parks attract an investment of Rs 1.404 crore and generate employment for nearly 50,000 people. They may also produce goods worth Rs 2.590 crore years, "he said.

Forty parks are established throughout the country under the SITP and is expected to attract an investment of Rs 21.502 crore.

Vaghela, who was here to attend a parliamentary advisory committee of the ministry, said: "One of the greatest achievements of the UPA was textiles from a sunset to a sunrise sector. "He asked the Chief Minister of Punjab Parkash Singh Badal to give up 2 percent tax on cotton in the interest of the farmer.

"I had taken this matter with the Prime Minister at a meeting earlier, but the waiver must be stated," he said.

On exports, Vaghela admit Ted, "The recession has affected the import capacity of the United States. The market is difficult. Although China is a major competitor, the Indian textile industry has been on the job to counter the competition. "Vaghela said a proposal to give a boost to the handloom sector has also been sent to the Prime Minister. The proposal includes suggestions such as the lifting of lending and loans to lower interest rates.