Uttar Pradesh Textiles and Garment Policy, 2022

• 22 Apr 2022

Why in News?

On April 21, 2022, a meeting was held under the chairmanship of Dr. Navneet Sehgal, Additional Chief Secretary (Handlooms and Textiles) of Uttar Pradesh to finalize the draft Textiles and Garment Policy, 2022.

Key Points

• The objective of this policy is to make Uttar Pradesh a global textile hub and attract investors in the handloom and textile sector.
• Under this, arrangements will be made to provide various types of facilities to entrepreneurs along with a capital investment subsidy of up to 40%. Also, investors of Purvanchal and Bundelkhand will be given additional benefits in the proposed policy.
• In the new policy, a provision is being made to give 100% stamp duty and land cost subsidy.
• To increase exports from the state, exemption from export subsidy and electricity duty will also be given, as well as 100 percent reimbursement will be given to the developers who develop private textile parks.
• Significantly, under the Textiles and Apparel Policy, 2017, 79 proposals for investment in the 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.