State textile sector expects Rs 1,500 cr investment

The investment is expected to provide employment for around 50,000 people. Textiles Minister Gulihatti Shekhar, on Tuesday, said many companies had come forward to set up garment industries in the State. They would a sign memorandum of agreement during GIM.

Shahi Exports, a Bangalore-based garment firm, would set up a garment park in Shimoga and a garment unit in Maddur. Bombay Rayon would be setting up garment units in seven places.

Companies that set up units outside Bangalore would get power subsidy at the rate of Re one per unit. The government would also contribute employers’ contribution to the provident fund and ESI benefits meant for the employees.