Plastic and Textiles Industry Included in Special Incentive Package | 23 Feb 2022

Recently, keeping in view the immense potential in the state, it was approved to give a special investment incentive package to two industries of plastic and textile sector.

The two industries which have been approved to give special incentive packages include plastic goods manufacturing plants and non-woven interlining fabric industry.
An MoU of Rs.107.73 crore has been signed with M/s VTech Plastics Pvt Ltd, Raipur for setting up a plastic goods manufacturing plant, in which about 200 people will get employment.
Similarly, an MoU of Rs 22.15 crore has been done by M/s SBT Textiles Private Limited, Raipur for setting up non-woven interlining fabric industry. With the establishment of this textile industry, about 220 people will get employment.
Under the 'B Spoke Policy', the iron-steel, cement and electricity industries of the core sector of the state have already been included in the special incentive package.
Under the 'B-spoke policy', about 400 people will get employment in the state due to the establishment of two industries of plastic and textile. Under this policy, the sector-wise exemption limit for sponge iron and steel sector industries has been given from 60 percent to 150 percent.