Bangladesh proposes to set up a textile park in Gujarat as it is largely dependent on Indian cotton for its garment industry.
Bangladesh is focusing on Kadi, also known as the 'Cotton City' of India near Ahmedabad for the project and the initial investment is estimated to be Rs 240-300 crore.
The textile park will have spinning units aiming to have cumulative capacity of 1 lakh spindles. Bangladesh has sought around 100 acres of land from the state government for the project.
Trade bodies formed a delegation last month to put forward the proposal to the state government in order to set up a textile park.
The delegation included representatives of the Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Cotton Association and Bangladesh Garment Manufacturers and Exporters Association.
The focus would be on yarn manufacturing at first and may be later on garment manufacturing, said Mamta Verma, industries commissioner, Gujarat government.
This textile park would provide a cost advantage to Bangladesh as they mostly import yarn from Gujarat, she said.
She added that this project is very important to promote trade relations between Indian and Bangladesh.
Bangladesh is among the leading garment manufacturing and exporting countries. However, it has to rely on India confidently, especially Gujarat, for cotton and yarn.
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