UP govt signs 29 MoUs in textile industry

27 Feb '18

1 min read

At the recently concluded Uttar Pradesh Investors Summit, the state government signed 29 memorandum of understanding (MoUs) in the textile segment, likely to generate over 5 lakh employment opportunities. The implementation of the MoUs worth Rs 7,436 crore will boost the sales of textile items while creating opportunities for the local weavers and artisans.

"A four-member committee under the textile commissioner has been formed, so as to maintain a constant touch with the investors and ensure that their problems are resolved," said a news agency quoting UP minister for handloom and textile Satyadeo Pachauri

The committee will include deputy director of textile directorate, Kanpur and managing director of the Uttar Pradesh State Industrial Development Corporation. The committee will look into that the investors benefit from the facilities as per the recently announced textile policy of UP, said Pachauri adding that the state government has also assured of the necessary assistance to the investors.

Under the policy special incentives, the government will assist traders in finance and marketing. There is also a provision to boost reeling units, commonly used in silk industry. (RR)

Fibre2Fashion News Desk – India

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