Minister for Textiles Vartur Prakash on Thursday said the State Government was making efforts to implement Suvarna Vastra Neeti (Golden Textile Policy) in view of attracting at least Rs. 10, 000 crore investment in the textile sector during the coming Global Investors Meet(GIM).

Inaugurating a one-day workshop on the programmes of Suvarna Vastra Neethi here, he said that investment would be invited in handloom, powerloom, weaving, processing and readymade garment areas, and that Rs. 500 crore had been earmarked for the effective implementation of the policy in the budget. “The Government is hoping to create employment to over five lakh people by 2013 through this investment”, he said.

The Government had released Rs. 17.07 crore for developing 2,845 residential workshops for weavers in various parts of the State. Mahatma Gandhi Bunkar Bima Yojana had been extended to 40,910 weavers.

It had been planned to supply powerlooms to 1,500 weavers belonging to Scheduled Caste and Scheduled Tribe communities and set aside Rs. 10 Crore for the purpose, he said.

Noting that the Government was making every effort to create employment in textile sector, he said that, Textile Park, being developed by Shahi Exports in Shimoga district with an investment of Rs. 533 crore would provide employment to over 1,000 people and Rs. 1,070 crore would be spent on textile parks that would provide employment to over 44500 people, he said.

More In: Bangalore | Business