The Uttar Pradesh (UP) Government has approved Uttar Pradesh Textile and Garmenting Policy-2022 in the cabinet meeting.
The state’s focus is to establish a global-level apparel manufacturing industry and sustainable development of textile industry including handloom, powerloom, spinning, weaving and processing.
It has been said that the specific objective of the policy is to attract private investment of Rs. 10,000 crore in the textile and apparel sector, to create employment opportunities for five lakh people, develop five textile and garment parks in the private sector, and to increase the income of handloom and powerloom weavers.
The additional capital subsidy will be reimbursed at the rate of 5 per cent to textile and garments units to be set up in Madhyanchal region of Uttar Pradesh and at the rate of 10 per cent to textile and garments units to be set up in Purvanchal and Bundelkhand.
Parliamentary Affairs Minister Suresh Khanna said, “This policy will be effective for five years from the date of promulgation. This policy will increase investment in the state and is likely to generate three lakh employment opportunities,” he said.
