Odisha targets Rs 10,000 crore investment in textiles sector.

Odisha has set its sights on becoming a major player in India's textiles industry. With an ambitious target of attracting Rs 10,000 crore in investments over the next five years, the state aims to create over 100,000 new jobs and boost its economy. The government is offering attractive incentives to investors, including a 30 per cent reimbursement on investments spread over five years. This policy applies to a wide range of textiles, from apparel to technical textiles, and includes both natural and synthetic fibers.

Odisha recognizes its current minimal presence in textiles exports and is working aggressively to change that. Initial signs are promising, with 26 proposals already approved and companies like Shahi Exports, Aditya Birla, White Lotus, and Welspun Living expressing interest. These investments range from Rs 50 crore to Rs 4,000 crore.

Beyond financial incentives, the state is providing additional support to attract investors. This includes a special electricity tariff with a Rs 2 per unit subsidy for the next decade and covering social security contributions for local workers. To further enhance the workforce, Odisha plans to build hostels specifically for women workers.

This push for textiles aligns with India's national goal of becoming a global leader in the sector. The domestic technical textiles market is booming, projected to reach Rs 1.81 trillion by 2024, and the government aims to push textile exports from $2.5 billion to $10 billion in the next five years.

Despite a recent dip in overall textile exports, India remains a powerhouse in the industry. With its dominant position in cotton, jute, and silk production, and its status as the world's leading producer of hand-woven fabrics, India – and Odisha by extension – has immense potential for growth and innovation in textiles.