Sutlej Textiles Ltd., one of the largest integrated textile manufacturing companies in India, has announced its plan to make an investment of Rs. 786 crore in Indian state of Karnataka.
The upcoming textile facility to be set up in Badanaguppe and Kallambahalli villages of Chamarajanagar district would offer employment opportunities to around 1,800 people in the state. At least 46 acres of land has been given to Sutlej Textiles Ltd. to set up its sportswear making unit here.
The industrial estate is being set up by the Karnataka Industrial Area Development Board in over 1,460 acres of land.
Karnataka Heavy Industries Minister K.J. George, who visited the industrial estate, assured all assistance to the company in setting up of the unit. The state government is intending to revolutionise industrialisation in backward districts like Chamarajanagar.
The state government has announced several measures including subsidy to encourage industrialisation in the state. Subsidy of 20-25 per cent is given to attract entrepreneurs in the regions classified as ‘backward’ under Industrial Policy 2014-19.
Entrepreneurs belonging to Scheduled Castes, Scheduled Tribes, and Backward Classes are offered an additional 5 per cent subsidy. Under the State’s Industrial Policy, industries being set up by women entrepreneurs, businesspersons with disabilities and those who have served in the armed forces in the backward regions are entitled to a subsidy of additional 5 per cent.
In addition to Sutlej Textiles Ltd., at least 94 projects with combined investment of Rs. 162 crore has been approved by the single window clearance committee headed by Deputy Commissioner of the district B.B. Cauvery. The arrival of new projects in the state would create employment opportunities for youth in the state.
