Indian Oil Corporation Ltd. (IOCL) and MCPI Ltd. have signed a memorandum of understanding (MoU) to set up a textile park in Odisha. The agreement was signed during the Petrochemical Investors Conclave held last week in Bhubaneshwar.
Union Minister Dharmendra Pradhan inaugurated the event that aims to attract investments in the high-potential eastern states. It was organised under the aegis of Ministry of Petroleum and Natural Gas.
The Odisha Government recently took various steps such as establishing a Yarn Bank, speeding up the process of setting up an Apparel Incubation Centre at National Institute of Fashion Technology (NIFT), Bhubaneswar, to boost textile industry in the state.
Additionally, the State Government recently announced operational guidelines to implement the new State Apparel Policy.
The latest guidelines issued by the Government makes obtaining an identification number through the Micro, Small and Medium Enterprises Department of the Government a must for those who want to set up a textile manufacturing factory in Odisha.