Will set up textile park in every Taluk of North Karnataka, says CM Bommai
Shiggaon, Jul 16: Karnataka Chief Minister Basavaraj Bommai on Saturday announced that textile parks will be set up in every Taluk headquarters of north Karnataka.
After laying the foundation stone for a textiles park and readymade garments unit in his constituency Shiggaon, he said, I want to see textile parks in every Taluk of North Karnataka. I started it from my Taluk (Shiggaon in Haveri district) with a hope that I can resolve the challenges. In future we will set up such textile parks in every Taluk." Shiggaon in Haveri district is the home town of Bommai.
According to him, textile industry provides jobs to large number of people. In Bengaluru alone over 10 lakh people work in textile units and almost 90 per cent employees are women.
Earlier, women who were dependent on their spouse for to meet their expenses are running the family after getting employment." The Chief Minister said his government is bringing a policy to lay emphasis on garment industries in every Taluk which offers maximum jobs to women. He also pointed out that there is immense scope for export in the textile industry.
The entire world is eyeing India. We should make use of the opportunity. We should not allow these industries to centralise only in the metropolitan cities like Delhi, Mumbai, Bengaluru and Kolkata but in small towns as well, Bommai said.
According to an official statement, the proposed textiles park will come up in an area of 59.34 acres and for the first time it would be set up on Anchor-Promoter' model.
Infrastructure facilities would be created in three phases for the textiles units and readymade garment factories, it said. The state government has provided Rs 25 crore for the first phase.
Anchor-promoter Texport Private Limited is investing Rs 42 crore to establish the readymade garments unit. It is expected to provide employment opportunities for about 5,000 people, the statement read.
Bommai was optimistic that more than 10,000 people will get job in and around Shiggaon due to the textile park in the near future.
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Trump says EU has until July 4 to approve last year's trade deal or it will face higher tariffs
Washington (AP): President Donald Trump has said in a social media post that goods from the European Union would face higher tariff rates if the 27-member bloc fails to approve last year's trade framework by July 4.
The announcement on Thursday appeared to be a deadline extension after the president said last Friday that EU autos would face a higher 25 per cent tariff starting this week. Trump made the updated announcement after what he described as a "great call" with European Commission President Ursula von der Leyen.
Still, the US president was displeased that the European Parliament had yet to finalize the trade arrangement reached last year, which was further complicated in February by the US Supreme Court ruling that Trump lacked the legal authority to declare an economic emergency to impose the initial tariffs used to pressure the EU into talks.
"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!" Trump posted. "I agreed to give her until our Country's 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."
It was unclear from the post whether Trump was implying that the tariff rates would jump on all EU goods or the increase would only apply to autos.
His latest statement indicates he might be backing away from his earlier threat on EU autos by giving the European Parliament several more weeks to approve the agreement.
Under the original terms of the framework, the US would charge a 15 per cent tax on most goods imported from the EU.
But since the Supreme Court ruling, the administration has levied a 10 per cent tariff while investigating trade imbalances and national security issues, aiming to put in new tariffs to make up for lost revenues.
