SMBs bet on Muktsar textile park for growth | SupportBiz

Top Story

SMBs bet on Muktsar textile park for growth

 
Small and medium enterprises would gain the most from a proposed Rs 1485 crore textile park in Muktsar district of Punjab with improved facilities for processing raw cotton to finished clothes and garments.

The government plans to build the textile park in 350 acre land in a region that does not have such facilities so far. The park, expected to be ready by 2017, will generate over 100,000 jobs in the region.

 “The development of textile parks in the state would bring business to the traders there. Not only the big units will get better facilities but small and medium enterprises will also be benefitted from it”, said President of Ludhiana-based Knitwear club Narinder Miglani.

 “Big companies always hire SMEs to get their work done, creating employment and more business for them. It is being done to boost up the cotton processing and trade in the state”, he said.

 “It might take long time for government to develop this park, but would definitely help SMEs to grow further. Presently, we are not being given any amenities, so the Textile park would bring some better changes to the industry of the state”, said a Rajinder Kumar an owner of a small enterprise.

 North Indian cotton processing president Rakesh Rathi said that the launch of this project in Muktsar would boost up the industries nearby also. It would not only bring work but would also save transport expenses. Presently we have to send raw cotton material to processing units at different places in the state.

  “The state government is hopeful that this policy would help in optimum utilization of home produced cotton thereby adding to the state revenue besides providing employment to the youth,” said Sukhbir Singh Badal, deputy chief minister of Punjab.

Companies setting up units in the textile park will get 50% exemption from market fee, upto 50% of fixed capital investment if they commit to source local cotton and waiver of license fee charges for 10% of the land, if used for commercial purposes, he said.