The Karnataka Government has formulated a new textile policy spanning from 2024 to 2029, to invigorate the textile and weaving sector in the state.
The policy aims to foster increased investment and employment opportunities throughout the state.
One of the significant initiatives under this policy includes the establishment of a mega textile park spanning 1,000 acres in Kalaburagi district, North Bengaluru, through a Public-Private Partnership (PPP) model. A collaboration between the state and Central Governments, This park is anticipated to directly employ 1 lakh individuals and indirectly benefit 2 lakh people. The government has allocated a grant of Rs 50 crore for supplemental infrastructure for this monumental project.
Furthermore, the government plans to construct new textile parks in Kittur Karnataka, Kalyana Karnataka (Raichur), and Mysuru regions through public-private partnerships, with the expectation of generating 10,000 jobs in the near future.
In a bid to formalise the jeans manufacturing sector and uplift it to international standards, a common facility center and Jeans Apparel park will be established in Ballari.
The state government also plans to establish mini textile parks in 25 districts, with subsidies provided in accordance with existing textile policies. Additionally, measures will be taken to promote Khadi activities, particularly in Badanavalu village of Nanjangud Taluk, a place visited by Mahatma Gandhi.
Small and Medium Enterprises (SMEs) will receive government support to tap into the capital market, with the state offering assistance for SMEs to issue Initial Public Offerings (IPOs), covering up to 50 per cent of the cost or a maximum of Rs 25 lakh.
Moreover, the government aims to bolster the startup ecosystem with the launch of three new programs, including the Rajiv Gandhi Entrepreneurship Program and initiatives supporting early-stage women entrepreneurs.
