Manipur gateway to South East Asia woos investors for upcoming textile park

Manipur Minister of Commerce and Industry Govindas Konthoujam invites investors to come and see for themselves the opportunities at the upcoming textile park in Lamboikhongnangkhong in the state capital Imphal as it is India’s gateway to South East Asia. Considering how India has intensified its focus on the neighbouring countries with a change from ‘Look East’ to ‘Act East’ policy, it is the right time to invest there, said Govindas.

Already some companies, including Mumbai-based Etco Denim, Triveni Rayons, Narmada Polyfab and Fairdeal Textile Park (all from Surat), have expressed interest to set up units in the upcoming textile park at Lamboikhongnangkhong in Imphal. They will be soon visiting Manipur to do a feasibility study.

Although the state has faced law and order issues, the Manipur government is assuring investors safety and security as it tries to create much-needed jobs for the unemployed also take care on the availabiligy of power supply.

A special purpose vehicle would be formed for setting up units at the textile park with Centre providing support of 80 percent of the investment required and the private investor contributing 10 percent, while the state’s share of 10 percent would come in the form of land provided for setting up manufacturing unit at the park.

Expressing confidence that the state’s textile park will be a success, the Minister said that already they have acquired 70 acres of land and they are trying to get another 60 acres more so that the park has a size of at least 130 acres.

Konthoujam said that the union Ministry of Textiles has already launched an apparel and garment making centre in Manipur with a project cost of Rs 18.18 crore as well as a Power-loom Estate with a project cost of Rs 13.05 crore.

Investing in the state was necessary not only from the economic point of view to provide jobs to the unemployed educated youths of the state but also on a wider perspective of national integration.

Besides, Prime Minister Narendra Modi has been emphasising that Indian businesses should focus on increasing trade with the South East Asian nations.

The Scheme of Geotextiles for North Eastern Region (NER) has been also launched recently in Manipur by the Union Minister of Textiles during his visit to the State.

Manipur has the highest concentration of handloom weavers in the country with 33 pc households dependent on handlooms.

With financial assistance from the Ministry of Textiles under Integrated Handloom Development Schemes (IHDS) and North Eastern Region Technology Promotion Schemes (NERTPS), the State Government was helping 29,000 weavers directly and another 30,000 weavers indirectly.

Keeping in view factors such as geographical isolation and difficult terrain of North East Region with high cost of construction, transportation and erection of machinery in the region, intervention under the aegis of the umbrella scheme of North East Region Textile Promotion Scheme (NERTPS) was taken up by Government of India as an initiative to promote organized textile industry.