New policy for powerloom industry announced

Kolhapur, Apr 10: Taking into consideration the huge job opportunities in the powerloom industry, the Union and state governments have announced a new policy, which could be beneficial for the powerloom sector, Maharashtra Chief Minister Vilasrao Deshmukh said yesterday.

He was speaking after a foundation laying ceremony of the Rs 600 crore Metro High-tech Cooperative Textile Park, to be set up in the district's Kagal industrial estate.

Mr Deshmukh said the new textile policy will help investors in the Kagal industrial estate to create job opportunities, which will usher in a new developmenal era for the state.

He said so far Rs 2,000 crore worth of investments have been made in this estate by different industrial units and in the next two years additional Rs 2,000 crore is expected.

NCP MP Sadashivrao Mandlik presided over the function.

State Finance Minister Jayant Patil, on the occasion, said that the economic development rate of Maharashtra is now 8.6 per cent and efforts are on to take it upto ten per cent.

Kolhapur District Guardian Minister Harshwardhan Patil, State Minister for School Education Hasan Mushrrif also spoke at the function.

UNI