The Minister of Commerce, Industry and Textiles Mr Anand Sharma announced the plan to set up of India’s ninth National Investment and Manufacturing Zone (NIMZ) at Nagpur on Saturday.
The proposed NIMZ, the third in Maharashtra, would be situated in Kuhi and Umred Taluka of Nagpur district on 6,280 hectares, an official release said.
Further, it is likely to attract investment of Rs 25,000 crore and provide direct and indirect employment to about 2,60,000 people, the statement added.
“I am happy to inform that ‘in-principle’ approval has been accorded to the proposal given its significance,” Mr Sharma said, after inaugurating the National Institute of Intellectual Property Management (NIIPM) in Nagpur.
Later in the day, the Minister also announced that the Technology Upgradation Fund Scheme for the textile industry has been extended for the 12th Five Year Plan.
“There will be more allocation under the 12th Plan than under the 11th Plan, so those in textiles sector must feel assured that the Government is conscious what their needs are,” he said.