The Haryana Government has decided to extend the Atma Nirbhar Textile Policy 2022-25 and its succeeding schemes by one year, till 18th December 2026, in response to the enormous reaction from businesses around the state.
Furthermore, as part of the program, the Government has chosen to eliminate the cap on the number of cases under the Capital Investment Subsidy for Textile Units initiative. According to an official statement, the state Cabinet met here on Tuesday, chaired by Chief Minister Nayab Singh Saini, and made a resolution to this effect.
The “Haryana Atma Nirbhar Textile Policy 2022-25” was announced, with a three-year aim of generating 20,000 jobs and an investment of US $ 466 million (Rs. 4,000 crore).
Through the construction of contemporary infrastructure, the use of cutting-edge technology, and the encouragement of effective and sustainable production methods, the policy seeks to strengthen the textile industry by increasing entrepreneurial competitiveness.
A number of incentive programs, including the Capital Investment Subsidy for Textile Units, the Interest Subsidy Scheme, and the Investment Subsidy in lieu of Net SGST, were developed to offer financial support under the Haryana Atma Nirbhar Textile Policy 2022–25.
State entrepreneurs have found the Haryana Atma Nirbhar Textile Policy 2022–25 to be quite effective, and it has drawn funding for a number of innovative textile-related initiatives.
Since the announcement, 354 applications have been received for all schemes; 108 of these applications, totalling US $ 43 million (Rs. 367.51 crore) in grant-in-aid, have already been granted, the statement stated.
Removing the cap on the number of cases eligible for incentives under the Capital Investment Subsidy for Textile Units Scheme will help achieve the main goal of bringing in US $ 466 million (Rs. 4,000 crore) in investments and creating jobs for 20,000 people, the statement said.
