The state MSME department has launched West Bengal Textile Incentive Scheme (WBTIS), 2022, intending to extend fiscal incentives to textile sector industries across the entire value chain starting from fibre to stitched garments, to set up and expand such units in the state. An eligible textile Industry in the state will be entitled to state capital investment subsidy for its approved project which will vary from a maximum of Rs 20 crore to 50 crore and there will be a 100 percent waiver of electricity duty for 5 years from the date of commencement of production subject to a maximum of Rs 100 lakh per year.
An eligible textile Industry under WBTIS 2022 for its approved project will be entitled to a power subsidy on electricity consumption for 5 years from the date of commencement of production from any licensee power supplier on a reimbursement basis. For garment manufacturing units the subsidy will be to the tune of Rs 50 lakh per annum for 5 years while in types of various manufacturing activities like spinning (short staple and long staple), weaving and knitting, circular knitting, dyeing and processing of fibers, yarn, fabric and garment, technical textile (Agrotech, Buildtech, Indutech, Geotech, and Medi-tech) and non-woven fabric manufacturing, polymerisation, texturising and twisting the upper limit of subsidy will be Rs 1 crore per annum for five years. It will be entitled to reimbursement of 100 percent of the stamp duty and registration fee paid by it as well as a 100 percent waiver of fees for conversion and mutation of the land as approved in the project.
The focus is on accelerated and focused development of the textiles sector across the state and to maximize the utilisation of resources, generate new employment and widen the area of operation to make the state emerge as the preferred destination for investment in the textile sector,” a senior official of MSME department said. The WBTIS 2022 for textiles shall generally apply to industries in the manufacturing and processing of textiles, apparel and technical textiles products which have started production on or after April 1, 2022.
However, textile units in the MSME sector will have the option to apply either under this scheme or under the existing “Banglashree” Scheme, 2020, unless notified otherwise. An eligible textile industry will be entitled to a reimbursement of 50 percent of the cost of an energy audit undertaken by a certified agency for its approved project. The reimbursement will be made after the implementation of the recommendations with an upper limit of Rs 2 lakh.
The state MSME department has launched West Bengal Textile Incentive Scheme (WBTIS), 2022, intending to extend fiscal incentives to textile sector industries across the entire value chain starting from fibre to stitched garments, to set up and expand such units in the state. An eligible textile Industry in the state will be entitled to state capital investment subsidy for its approved project which will vary from a maximum of Rs 20 crore to 50 crore and there will be a 100 percent waiver of electricity duty for 5 years from the date of commencement of production subject to a maximum of Rs 100 lakh per year.
