‘The textile cluster move’, which was mooted in the union budget 2014-15, began on Saturday. The project will receive Rs. 50 crore by way of central grant and an additional 25 acres of land is being identified for its expansion.
A Special Purpose Vehicle (SPV) will be registered under the Companies Act for its implementation and funding.
The work on proposed mega textile cluster for Mysuru in Tamil Nadu is expected to commence soon after the ground breaking ceremony to be held later this month. The textile cluster will take shape near Hootagalli for which Rs.30 crore has been earmarked as initial investment, according to official sources.
Being a labour-intensive industry, the launch of textile cluster would be among the first of the five industry specific clusters sanctioned for Mysuru and it is expected to help generate additional employment in the region, besides fuelling local economy by spanning ancillary industries to support the cluster. The mega textile cluster would also give a boost to the Make in India campaign.
Mysuru and its surrounding regions also known for sericulture, and the famed Mysore Silk has been accorded the Geographic Indication tag in view of its uniqueness.
Similarly, the area is renowned for cotton. Though cultivated extensively in H.D. Kote region, the bulk of it is supplied to textile units in Tamil Nadu. But once the textile cluster takes shape, local farmers will have a market closer home which will be beneficial to them as it will obviate the need for transportation.
