New Delhi, April 22 (KNN) The New Textile Policy of Uttar Pradesh is being prepared after studying the textile and garment policies of other states and it will give special facilities to the investors.

The Additional Chief Secretary (Handloom and Textiles) Dr Navneet Sehgal said preparations are being made to provide special facilities to the investors investing in UP.

Further, in the proposed policy, investors in Purvanchal and Bundelkhand would be given additional benefits.

A meeting was held under the chairmanship of Dr Navneet Sehgal at Lok Bhawan to finalize the draft of the Textiles and Garment Policy-2022.

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.

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 added that entrepreneurs would have to start production within five years from the issuance of a letter of comfort.

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. 

Officers of the Finance and Environment Department and officials of various industrial organizations were present in the meeting. (KNN Bureau)