Rs 400 cr investment in Bengal's hosiery parks expected by FY 2024-25 WBHA

PTI Updated: November 22, 2023 20:45 IST

Kolkata, Nov 22 (PTI) The West Bengal Hosiery Association (WBHA) on Wednesday said that an investment of Rs 400 crore in capacity building of hosiery parks in the state is expected by the next fiscal year.
    Addressing a session on manufacturing industries with a focus on MSMEs and textiles at the seventh Bengal Global Business Summit, WBHA secretary Pradeep Arora said, "This investment aims to add a sprawling 20 lakh sq ft of operational area to the hosiery parks."
    Chief Secretary H K Dwivedi, in his address, underscored the importance of Medium and Small Scale Industries (MSMEs) in the rural hinterlands, while stressing the need for robust support mechanisms such as enhanced access to credit, simplified compliance obligations, and swift project approvals.
    Acknowledging the challenges faced by MSMEs, Dwivedi said the state government was taking a proactive approach by regularly organising stakeholder consultation meetings at the district level, often in the presence of Chief Minister Mamata Banerjee and representatives of district chambers of commerce.
    He urged the chambers of commerce to actively collaborate with the government, identifying and addressing grey areas hindering the growth of MSMEs.
    N G Khaitan, president of the Bharat Chamber lauded the government's initiatives in facilitating land allotments to investors within a 15-day timeframe.
    Khaitan also praised the government's efforts to promote the garment and hosiery industry through the establishment of specialised industrial parks.
    WBHA president Vinod Kumar Gupta spoke about the pivotal role of the textiles sector as India's second-largest employment generator, trailing only agriculture.
    Gupta lauded the West Bengal Textile Incentive Scheme 2022, hailing it as a flagship policy that maximises resource utilisation, stimulates new employment, and widens operations, positioning the state as a prime investment destination in the textile sector.

(This story has not been edited by THE WEEK and is auto-generated from PTI)