The Stats of Maharashtra currently has 110 knitting, hosiery and garmenting units. The State is incentivizing to increase the garmenting sector in the state to complete the value chain and promote sale of finished products.
The incentives offered to the knitting, hosiery and garmenting sector will vary as per the Zones. The Zonal classification is given in the Annexure. The incentives offered are as follows1.
Capital and Electricity Subsidy:
|Size/ Zone||Financial Assistance in form of Capital Subsidy-% (on fixed capital investment)||Electricity Subsidy|
|Zone 1||45%||As per Annexure|
|Zone 1||40%||As per Annexure|
|Zone 1||55% with a maximum up to INR 250 crore, whichever is less||As per Annexure|
|Zone 2||50% with a maximum up to INR 225 crore, whichever is less|
|Zone 3||45% with a maximum up to INR 200 crore, whichever is less|
|Zone 4||40% with a maximum up to INR 175 crore, whichever is less|
|Ultra Mega Enterprises||· High Power Committee (HPC), under Chief Secretary will be constituted to approve the Special Package of Incentives to Ultra Mega projects. · For ultra-mega projects the investment will have to be made within a period of 10 years from the date of issue of Letter of Intent from the Department||As per Annexure|