New Delhi, Mar 7 (UNI) The Cabinet Committee on Economic Affairs today gave its approval for the continuation of the Scheme for Integrated Textiles Parks (SITP) in the 11th Plan (2007-12) and sanctioned 10 new parks under the scheme.
The existing norms for release of Government support would continue for the scheme.
The development of textiles parks would facilitate additional investment, employment generation and increase textile production, an official press note said.
As per the target for the 10th Five year Plan, 30 Textiles Projects have been approved with an estimated project cost of Rs 2,893.42 crore of which central assistance under the scheme would be Rs 1,054.76 crore.
The Statewise sanction of projects is as follows: Andhra Pradesh (4), Gujarat (7), Karnataka (1), Maharashtra (6), Punjab (1), Rajasthan (4), Tamil Nadu (6) and West Bengal (1).
The estimated investment in these parks is Rs 15,258 crore and estimated annual production is Rs 24,000 crore. Estimated employment generation is more than 5.45 lakh. These parks are expected to be operational by March 2009.
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