UP private textile parks gets green signal

Uttar Pradesh state gets approval for the development of private textile parks also the draft for the UP Textile, Handicrafts and Sericulture Policy 2017 has been approved by the state government led by chief minister Yogi Adityanath.

Their 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, said chief minister,

The investors seeking to buy 50 acres and above land for textile parks will be exempted from stamp duty. Further, the government will be also waiving off the interest on loans for purchase of land and construction of infrastructure such as staff quarters and hostels.

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.