UP govt gives nod for private textile parks in state

17 Jun '17

1 min read

Uttar Pradesh government led by chief minister Yogi Adityanath has given approval for the development of private textile parks in the state. The draft for the UP Textile, Handicrafts and Sericulture Policy 2017 has been approved by the state government. The investors seeking to buy 50 acres and above land for textile parks will be exempted from stamp duty.

"Our aim is to attract FDIs and private investors to boost the textile industry in Uttar Pradesh. Those who are willing to invest in this sector will be given tax and other sops. The government has already made provisions for the same in its draft policy," chief minister told the media.

With aim to boost textile industry in the state, the officials will identify various locations for the development of textile parks on the expressways and national highways, including Lucknow-Kanpur, Kanpur-Allahabad, Chitrakoot-Jhansi-Lalitpur, Varanasi-Allahabad, Delhi-Meerut, Delhi-Moradabad, Bareilly-Moradabad-Bijnore, Meerut-Nazibabad, Gorakhpur-Varanasi and Gorakhpur-Faizabad.

Further, the government will also waiver the interest on loans for purchase of land and construction of infrastructure such as staff quarters and hostels. (RR)

Fibre2Fashion News Desk – India

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