In order to make Uttar Pradesh a global textile hub and attract investors in the field of handloom and textiles, the state government is soon going to introduce a new Textiles and Garment Policy-2022 under which arrangements will be made to provide all kinds of attractive facilities to entrepreneurs along with capital investment subsidy up to 40 per cent.
A meeting was held under the chairmanship of Additional Chief Secretary (Handloom and Textiles) Dr Navneet Sehgal at Lok Bhawan on Thursday to finalise the draft of the Textiles and Garment Policy-2022.
Officers of the Finance and Environment department and officials of various industrial organisations were present in the meeting.
The additional chief secretary said this policy had been prepared after studying the textile and garment policies of other states. He said preparations were being made to provide special facilities to the investors investing in UP and in the proposed policy, investors in Purvanchal and Bundelkhand would be given additional benefits.
Sehgal said that provision was being made to give 100 per cent stamp duty and land cost subsidy in the new policy. In addition, grants would be given for infrastructure facilities, he said, adding that subsidies would also be given for employment generation.
“Additional grant will be given for keeping women workers in industrial institutions,” he said.
To increase exports from the state, exemption in export subsidy and electricity duty will be given. Besides, 100 percent reimbursement will be given to the developer who develops a private textile park.
Sehgal said that entrepreneurs would have to start production within five years from the issuance of a letter of comfort.
He said under the Textiles and Garmenting Policy-2017, 79 proposals for investment in handloom and textile sector were received, out of which 53 were for micro, small and medium enterprises (MSMEs) and 26 for large, mega and super mega industries.
“With the new policy, a maximum number of investors will come to Uttar Pradesh and employment opportunities will be available to a large number of people. Along with this, Uttar Pradesh will also become self-sufficient in the textile industry sector,” Sehgal said.