Summary:
The interest subsidy will be eligible on loan amount disbursed for Gross Fixed Capital Investment (GFCI).President of South Gujarat Productivity Council (SGPC), Asha Dave, said, “The textile policy will boost MSMEs in Surat and other centres in Gujarat. Sharing more details, Nitin Thakker, president, Ahmedabad Textile Processors’ Association (ATPA), said, “Unlike other states such as Maharashtra and Telangana, the new textile policy does not provide any capital subsidy. This will discourage new investments into the state in the textile sector in Gujarat. Another important feature of the scheme is the interest subsidy of a maximum of Rs 20 cr per annum. At a time when industry is making efforts for better energy efficiency and zero liquid discharge, the assistance should have been more,” said Meena Kaviya, co-chairperson – textile committee, Gujarat Chamber of Commerce and Industry (GCCI)..