Chinese textile grp keen to set up textile industry in Uttarakhand

A delegation of Chinese Textile Company, Zhejiang Daoqin Textile Co Ltd has expressed interest in setting up of a textile industry in the Sitarganj Pase-II industrial estate in Uttarakhand state for which it would be making investment to the tune of Rs600 crore. In this connection, the delegation of Chinese textile company met Chief Minister Harish Rawat.

Zang Chain, Charlee Yang and Lee Guambri from M/S Zhejiang Daoqin, Textile Co Ltd along with Uttarakhand Chief Secretary Shatrughan Singh, SIDCUL managing director R Rajesh Kumar and other senior officials attended the meeting.

Rawat assured the Chinese textile company delegation of full cooperation. Dr R Rajesh Kumar, MD, SIIDCUL, also assured the delegation of providing necessary help through the single window system started by the state government for the industry.

This is likely to help the state’s textile industry take a major steps towards growth. This venture will also provide employment to around 8,000 people and with the inflow of textile industries, it will generate more options of livelihood.

As per the State Industrial Development Corporation of Uttarakhand (SIDCUL), it will be the first Chinese company to make 100 percent foreign direct investment (FDI) in India.

Uttarakhand is a suitable business destination for industrialists due to benefits like rebate in per unit electricity bill, exemption from electricity tax, 50 per cent rebate in land for setting up textile industry.

According to experts, surplus ground water in Sitarganj and proximity of Udham Singh Nagar to neighbouring countries like Nepal and China have attracted industrialists to the textile park. Another advantage is its border with Uttar Pradesh and good transportation facility to other parts of the country.

As per Central government standards, Uttarakhand recently got the 4th rank for ease of doing business due to which Uttarakhand, is anticipating more Chinese firms to invest in the state in the future.