LUCKNOW: The Uttar Pradesh government is committed to making the state a global textile hub, said Rakesh Sachan, the state minister for micro, small, and medium enterprises (MSMEs), handicrafts, and the textile industry. He added that the government intends to attract ₹10,000 crore in private investment in the textile sector while creating 5 lakh job opportunities.
Speaking at a press conference on Monday, Sachan said, “Our government has promulgated the UP Textile and Garmenting Policy of 2022. The textile industry in UP has immense potential as we have a market of 24 crore consumers. Besides, we also have a skilled and trained labour force.” The minister added, “We will organise fashion shows in two cities to promote the export and sale of textile products made in the state. We will also hold handloom, silk, and khadi expo once a year at prominent trade centres of the country. Besides, buyer-seller meets will be held in eastern and western UP twice a year.”
Under the new policy, the investment process has been made online. “To address the issues of investors, we will set up a help desk. The policy will also encourage self-employment opportunities for children of weavers. Also, five private-sector textile and garment parks will be established to increase the income of handloom and power loom weavers. In addition, power looms are to be modernised and entrepreneurs will be motivated to use solar energy,” said Sachan.
Other major benefits to be rolled out under the policy include -- 100% exemption of stamp duty against bank guarantee to entrepreneurs who buy plots to set up the production units; state residents will be given preference in purchasing land from UPCIDA, GIDA, Noida, Greater Noida, and other UP authorities; and encouragement to state residents who wish to set up businesses in the field of handloom and textiles. “Students who wish to start their venture after passing the three-year diploma from the Indian Institute of Handloom Technology will be given a 75% grant as per their project cost,” added Sachan.
{{/usCountry}}Other major benefits to be rolled out under the policy include -- 100% exemption of stamp duty against bank guarantee to entrepreneurs who buy plots to set up the production units; state residents will be given preference in purchasing land from UPCIDA, GIDA, Noida, Greater Noida, and other UP authorities; and encouragement to state residents who wish to set up businesses in the field of handloom and textiles. “Students who wish to start their venture after passing the three-year diploma from the Indian Institute of Handloom Technology will be given a 75% grant as per their project cost,” added Sachan.
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