Karnataka government is all set to invest about Rs1400 crore to develop seven incorporated textile parks within next two to three years, by means of public private partnership (PPP).
Mahendra Jain, Secretary, Commerce and Industries Department of the state said that the government plans to offer the latest infrastructure facility for these seven parks.
Special purpose vehicles (SPVs) will be utilized and the government will provide upto almost 40 percent of the charges, ranging below the upper level of Rs40 crores.
Leading textile manufactures including Gokaldas Exports, Himatsingha Seide, Bombay Rayon and Raymonds are keen to establish manufacturing units at these proposed parks.
Karnataka Industrial Area Development Board (KIADB) has also joined in to help the government secure the land required for theses parks.
One of these parks will be built in the Special Economic Zone (SEZ) of Kanakapura.
Karnataka is rapidly emerging as the major textile state with almost 12-15 percent year-on-year growth.
Current export of textiles from the state rounds upto over US $1 billion or Rs4,500 crore engaging nearly four lakh people, especially women in the industry.
