Latest news with #NewTextilePolicy–2025

Business Standard

MP ready to change policies to attract industry, says CM Mohan Yadav

Chief Minister of Madhya Pradesh Mohan Yadav stated that the state government is ready to amend its policies based on the needs of industrialists and will not hesitate to change rules wherever potential is seen. He was addressing leading industrialists of Punjab during a meeting in Ludhiana, where he informed them about Madhya Pradesh's investment-friendly policies. Yadav emphasised that the Madhya Pradesh government is not only prepared to establish industries and boost investment but is also willing to make necessary policy changes if required. Highlighting the state's potential in the garments and textile sector, he reiterated the government's commitment to both investors and workers at every level. It is noteworthy that during the Global Investors Summit held in February 2025, the Madhya Pradesh government introduced the New Textile Policy–2025, which includes several provisions to attract investment in the sector. These include offering 10–40 per cent investment promotion assistance on plant and machinery, 5–7 per cent interest subsidy on loans, and up to ₹1 crore for infrastructure development. The policy also promises ₹50 lakh in financial assistance to investors establishing apparel training institutes in the state. The Chief Minister also highlighted Madhya Pradesh's competitive electricity tariffs, solar energy capacity and major power projects, assuring that the state has sufficient electricity for industries.