August 13, 2015 5:43 PM

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Government earmarks Rs 500 crore for textiles industry

The government has earmarked a sum of Rs 500 crore under the 12th five year plan to enable the textile industry to meet the required environmental standards by adopting modern technology. <br/><br/>Responding to questions in the Lok Sabha, Textiles Minister Santosh Kumar Gangwar said an Integrated Processing Development Scheme, will be implemented in Public-Private Partnership mode by special purpose vehicle which will be a corporate body registered under the Companies Act. <br/><br/>He also said the funding patter of the scheme envisages sharing of funds between Government of India, state governments and SPV in the ratio of 50:25:25 respectively. <br/><br/>Gangwar said the government of India support is limited to 50 per cent of the project cost with a ceiling of 75 crore rupees for projects with Zero Liquid Discharge.

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