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Recently, the Madhya Pradesh government had come up with a completely customised incentive package for textile and garment sector industries, which attracted companies like Trident Group, Aditya Birla Group, Raymond Group, etc to invest and establish their units in the state. The conducive policy of the Madhya Pradesh government, fewer man-day loss, and readily available skilled manpower has led to repeated investments in the state from these major textile groups.
‘Invest in Madhya Pradesh’ Global Investors Summit will take place from January 11-12, 2023, in Indore, Madhya Pradesh, the state’s government has announced. The summit seeks to increase the investment opportunities in Madhya Pradesh’s overall ecosystem and is expected to enhance the growth of the textile and apparel sector in the country.
Madhya Pradesh also accounts for 43 per cent of India’s and 24 per cent of the world’s organic cotton production. During the last three years, the state has witnessed 60 per cent compounded annual growth rate (CAGR) in organic cotton production. The state houses more than 60 large textile mills, 2.5 million spindles and over 4,000 looms.
The state allotted 840 acres to 384 industrial units in the past 17 months, with an estimated investment of ₹11,000 crore, according to state chief minister Shivraj Singh Chouhan’s statement in September 2022.
Fibre2Fashion News Desk (DP)
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