Under MBSBY, the government will allocate ₹4.9 billion (~$54.35 million) over five years for attracting investments, empowering local industries and expanding employment opportunities in the textile and handloom sector, State Parliamentary Affairs Minister Mukesh Mahaling told the assembly.
Aligned with the Odisha Apparel and Technical Textile Policy 2022 and the Industrial Policy Resolution 2015, it will provide incentives to new textile manufacturing units, he was cited as saying by media reports from the state.
Under the silk development scheme MRBY, ₹2.74 billion (~$30.4 million) will be spent over the next five years for strengthening the state’s sericulture industry through improved infrastructure and skill-building initiatives.
Ethical silk production will be backed by focusing on silkworm seed preparation, species conservation and farmer incentives. Cooperative societies will facilitate better marketing of silk products, protecting farmers from distress sale and ensuring sustainable growth, he said.
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