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Indian state UP to come out with new textile policy
03
Aug '17
The Uttar Pradesh (UP) government is working on offering a gamut of incentives to investors in the textile sector and likely to announce those in the form a policy for textile, handloom and silk industries in the near future. According to the state’s textile minister Satyadev Pachauri, the policy is being finalised and the state cabinet will approve it soon.
 
As per the draft textile policy, special incentives will be offered to investors in Bundelkhand, eastern UP and central UP and western UP, barring areas under the Noida, Greater Noida and Yamuna Expressway development authorities, an Indian English-language daily reported.
 
The draft, which states that UP imports two-thirds of textile raw material and textile products, aims to promote all aspects of handloom, textile and sericulture, from the production of raw material to preparation of the final product.
 
UP chief minister Yogi Adityanath, who in his past speeches has stressed the textile sector’s potential to generate employment, feels the sector will be the state’s second-largest job provider after agriculture.
 
The government will facilitate private or government land to investors for setting up their units. It will also offer assistance in setting up textile complexes, clusters for units of small and medium sizes, as well as textile parks, the draft says.
 
Pachauri, a state Legislative Assembly member from Govindnagar in Kanpur, the erstwhile hub of the textile industry in the state, said as the state government does not have the resources to revive the mills and can only provide assistance, participation of the private sector was essential. (DS)

Fibre2Fashion News Desk – India


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