Textile Policy Extension Govt. of Gujarat - Boost to Demand of Textile Machinery Spare Parts Industr

By: Pinkal Shekhaliya


The Gujarat government's decision to extend its textile policy for a year is expected to attract Rs 5,000 crore of additional investment across entire value of textile industry including support to supply chain, rising demand in domestic market as well as export of spare parts textile machinery & textile machinery components.

Textile Policy Implemented in 2013 has attracted around Rs 20,000 crore of investment in four years and created 2.5 million jobs announced by Govt of Gujarat. The government estimates addition till now of around 1 million units of spindle capacity around the spinning sector and setting up of more than 1,000 units in technical textiles.

According to an expert, there has been shifting of units from Tamil Nadu, Telangana and Maharashtra. The extension would see a beneficiary boost in further fresh investment in textiles machinery parts in Gujarat.

The extension is expected to add 300 ginning units, to 1,400, and double the spinning capacity to four million a year. Apart from setting up of units in other segments such as Textile Machinery, silk, jute and wool, Gujarat has been the largest producer and exporter of cotton in the country, at 33 per cent and 60 per cent, respectively. All these announcements are going to provide huge benefits to textile machinery spare parts manufacturers and suppliers.

Under the policy, the state government offers interest subsidy of five percentage points on new plant and machinery (P&M) for value addition, apart from six per cent and seven per cent for technical textiles and on new P&M for cotton spinning, respectively. Also, refund of value added tax (VAT) on expansion of existing units from cotton to garments and made-ups, in addition to power rate concession on new investment for cotton spinning at a rupee per unit.

This recent announcement will help machinery spare parts industry. Gujarat is a hub for the manufacturing as well as trade of textile spare parts. The state is a preferred destination for sourcing of textile parts as there are leading textile machinery parts manufacturer in Ahmadabad city.

Gujarat state contributes around 40-50 % of manufacturing capacities of textile machinery parts and components. There is huge presence of textile spare parts suppliers in cities like Ahmedabad, Surat and Rajkot.

The state has witnessed continuous increase in spinning capacities over the last decade; it has fueled the demand of textile spares within state and across India as well. There are many textile spare parts manufacturers who export in countries like Bangladesh, Pakistan, Indonesia and Africa.

Many units engaged into manufacturing of textile industry spare parts are in SME and MSME segment. They are willing to adopt new technology and automation in manufacturing of industrial machinery spare parts. Manufacturers based in Gujarat have also adopted modern marketing techniques including online tools, digital marketing and use of social media to promote their products.

This recent announcement can facilitate machinery spare elements trade. Gujarat may be a hub for the producing additionally as trade of textile spare elements. The state may be a most well-liked destination for sourcing of textile elements as there area unit leading textile machinery elements manufacturer in Ahmadabad town.

According to a professional, there has been shifting of units from province, Telangana and geographic area. The extension would see a beneficiary boost in any contemporary investment in textiles machinery components in Gujarat.

The extension is anticipated to feature three hundred ginning units, to 1,400, and double the spinning capability to four million a year. excluding putting in place of units in alternative segments like Textile Machinery, silk, jute and wool, Gujarat has been the biggest producer and bourgeois of cotton within the country, at thirty three per cent and sixty per cent, severally. of these announcements ar reaching to offer large advantages to textile machinery spare components makers and suppliers.

Under the policy, the regime offers interest grant of 5 proportion points on new plant and machinery (P&M) for price addition, excluding six per cent and 7 per cent for technical textiles and on new P&M for cotton spinning, severally. Also, refund valuable additional tax (VAT) on growth of existing units from cotton to clothes and made-ups, additionally to power rate concession on new investment for cotton spinning at a rupee per unit.

As Gujarat state contributes around 40-50 maximize producing capacities of textile machinery elements and elements. there's large presence of textile spare elements suppliers in cities like Ahmedabad, Surat and Rajkot.

The state has witnessed continuous increase in spinning capacities over the last decade; it's fueled the demand of textile spares inside state and across Asian nation additionally. There area unit several textile spare elements makers United Nations agency export in countries like Asian nation, Pakistan, Indonesia and Africa.

Many units engaged into producing of textile trade spare elements area unit in SME and MSME section. they're willing to adopt new technology and automation in producing of commercial machinery spare elements. makers based mostly in Gujarat have additionally adopted fashionable promoting techniques as well as on-line tools, digital promoting and use of social media to market their product.

Bookmyparts.com appreciates the initiatives taken by Govt. of Gujarat. The positive step taken by Govt of Gujarat has boost the morale of textile machinery spare parts suppliers, manufacturers, buyers representing Textiles industry in Gujarat and overall in India

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