Maharashtra government on Wednesday unveiled a new textile policy that aims to attract an investment of 40,000 crore rupees by 2017 in the textile sector. An official release said, the main objective of the policy is to lay special emphasis on setting up processing units in the cotton producing sectors, expansion of the textile industry and growth of employment. It also proposed to create 11 lakh new jobs in the sector in the next five years.Under this policy, the state government will provide 10 per cent capital subsidy to set up textile units in cotton-growing belts of Vidarbha, Marathwada and north Maharashtra. On the other hand, up to 12.5 per cent interest subsidy will be provided for projects linked to the centrally-sponsored Textile Upgradation Fund Scheme (TUFS). Modernisation or expansion of existing textile units will also be undertaken under this policy.