The government of Uttar Pradesh, India, is committed to providing a series of incentives for investors in the textile industry and may announce policies in the textile, handicraft and silk industries in the near future. According to Satyadev Pachauri, the country’s textile minister, the policy has been finalized and the Indian national cabinet is about to approve it.
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According to India’s “Daily Englishâ€, according to the draft “Textile Policy,†companies and investors investing in the Bundelkhand and Uttar Pradesh East, Central, and Western regions will receive special incentives. Investors are prohibited from investing in areas developed on the highways of Noida, Greater Noida and Yamuna.
The draft stipulates that Uttar Pradesh in India will increase its imports by two-thirds in textile raw materials and textiles, aiming to promote hand-spun textiles, mechanical textiles and silks, from the production of raw materials to the development of final products.
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Yogi Adityanath, Chief Executive Officer of Uttar Pradesh, India, in his previous speech highlighted the potential of the textile sector to create jobs and believes that the industry will be the second largest employment direction after agriculture.
The government will assist private or government land development projects in this area. The draft also stated that it is necessary to establish textile complexes, small and medium enterprise clusters and textile parks.
Pachauri, a member of the legislative assembly of Govindnagar State in Kanpur, the center of the textile industry in Kanpur, said that since the state government has no resources to revitalize these factories, it can only provide assistance and private sector participation is a must. Indispensable.
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