Uttar Pradesh approves new policy to promote textile sector

To create maximum job opportunities in the state in five years, the Government of Uttar Pradesh has approved ‘Handloom, Powerloom Silk, Textile and Garmenting Policy 2017’. Under the policy, special incentives would be given to Purvanchal, Bundelkhand and Mandhyachal regions. There is also a provision to boost reeling units, commonly used in the silk industry.

All the ‘ease of doing business’ provisions mentioned in Uttar Pradesh Industrial Investment and Employment Promotion Scheme 2017 would be applicable to the new policy, said a press release from the Uttar Pradesh government. The policy aims to create around 1 lakh new jobs.

The policy will also benefit those investors who will be attending UP investor summit in February 2018, UP government spokesperson and health minister Sidhharthnath Singh said after the Cabinet meeting presided by chief minister Yogi Adityanath.

The new policy will lead to increased employment and business opportunities, Singh said. He added that apart from rebate in GST and electricity bill, the government will assist traders in finance and marketing.