UP Textile Sector Gets ₹5,354 Crore Investment Push, Says Minister Rakesh Sachan
· Free Press Journal
Lucknow, September 08: Textile Industry Minister Rakesh Sachan stated, "The policies of the Yogi government and the investment-friendly environment have given new impetus to industries in the state along with infrastructure." He informed that handicraft exports from the state stood at around Rs 35,000 crore in the financial year 2025-26, while more than 2 lakh handloom weavers are associated with this sector and exports worth more than Rs 110 crore are being carried out.
He stated that UP’s textile products have also gained recognition at the national and international levels.
Visit mchezo.life for more information.
Rakesh Sachan informed, "The government is continuously encouraging investors to promote the textile industry in the state. Today, investment proposals worth Rs 5,354 crore have been approved. Under the textile industry policies of 2017 and 2022, incentives worth Rs 322 crore have been provided to around 116 investors. In addition, incentives worth around Rs 96 crore have also been provided."
He said entrepreneurs are being provided facilities including capital subsidy, 100 percent exemption in stamp duty, and 60 percent interest subsidy, along with concessions in land allotment and electricity. Entrepreneurs participating in national and international fairs are being provided subsidies of up to 90 percent.
The minister stated, "The garment sector of Gautam Buddh Nagar and Ghaziabad, Kanpur’s hosiery industry, Varanasi’s silk sarees, the carpets of Bhadohi-Mirzapur, Lucknow’s chikankari, Pilkhuwa’s home textiles, Meerut’s sports apparel and Farrukhabad’s textile printing have become the identity of the state. 17 products of the state have received GI tags. The Yogi government is providing weavers assistance in design, branding, packaging and digital marketing. In Varanasi, 443 students have received financial assistance of Rs 84 lakh. This will help connect traditional skills with the modern market."
Rakesh Sachan informed, "A PM MITRA Park is being developed on 1,000 acres between Lucknow and Hardoi. The Yogi government is spending Rs 1,100 crore for this. Six-lane roads, a 125 KV electricity line and water supply have reached the park. The master developer has also been finalized."
He informed, "CM Yogi Adityanath has set a target of developing 10 textile parks in the state. Under this, land has become available for Shilp Parks in Amroha, Bijnor, Sant Kabir Nagar, Bareilly and Banaras. Entrepreneurs will get investment opportunities across around 400 acres, and the department will make land available to them at affordable rates. Land is also being identified for textile manufacturing parks in Kanpur and other locations."
He said that, as in 2022, the new policy to be formulated in 2027 will also incorporate suggestions from entrepreneurs in the state. With the expanding tourism sector and a domestic market of 25 crore, there are significant investment opportunities in textile and ODOP products. For this, he invited entrepreneurs to make large-scale investments in UP.