7 Textile Parks: Will this increase the demand for housing in its periphery

Textile Parks are amongst the leading industries; globally. And India is among the world’s largest producers of textiles and apparel. It also happens to be the second biggest employer in the country with more than 45 million people directly employed and over 60 million people employed in the allied industries.

India is getting ready for the change and so is the world. The budget 2021, presented by Finance Minister Nirmala Sitharaman is poised to inflate these figures further by manifold and bring cheers to millions of people. These announcements will make the textile industry attractive to investors and globally competitive. It is also likely to attract huge Foreign Direct Investments (FDI) in the sector, which will make India’s textile industry bigger, better and robust. 

For those who were waiting for significant action. The wait is over for them as the scheme of mega-investment textile parks is right here to make the difference in real estate and rental homes also.

Let’s figure out some of the benefits of textile parks.

• Cost-effectiveness : Textile parks: a piece of great news which we all have heard after ages. Eventually, it is likely to attract huge buyers as these parks are much cheaper than anything parallel across the city at such affordable prices.
• Creates employment : Furthermore, these 7 textile mega parks will create millions of new jobs, spur growth, and will create a ripple effect to push the housing demand and real estate in general. This will not only create a world-class infrastructure, with plug-and-play facilities but will also make India the global export champions.
• Connectivity : When the textile industry will be expanding this will bring entrepreneurs and poor farmers together for financial gains. Therefore, this will help farmers to gain connectivity in the city which they were unable to get in their villages earlier. Apart from this, this step will help them to grow and evolve with time.
• Course of Development : These announcements are also sufficient to surge overall progress. With more people getting directly employed there is hope for early development. Textile parks are aimed at offering thoughtfully planned low-density advancement projects. This format is anticipated to increase the demand for housing in the country’s outskirts in the coming years.
• Added benefit : The added benefit of this establishment is that it will help to gather a greater share of the export trade of garments and textiles.

Amid concerns about the origin of the coronavirus in China, several international buyers are looking to diversify their supply base across countries.

India is spinning new hopes and aims to become a dominant player in textiles in the coming decade. The announcement of 7 mega textile parks will gradually benefit industries. It will also spur growth in housing around the periphery immensely.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.