Yogi Adityanath offers sops for private textile parks in UP

The Yogi Adityanath-led state government in Uttar Pradesh has given the go-ahead to develop private textile parks on expressways and national highways.

Approving the draft of the UP Textile, Handicrafts and Sericulture Policy 2017, Chief Minister Yogi Adityanath has directed officials to identify locations on the expressways and national highways, including Lucknow-Kanpur, Kanpur-Allahabad, Chitrakoot-Jhansi-Lalitpur, Varanasi-Allahabad, Delhi-Meerut, Delhi-Moradabad , Bareilly-Moradabad-Bijnore, Meerut-Nazibabad, Gorakhpur-Varanasi and Gorakhpur-Faizabad.

"Our aim is to attract FDIs and private investors to boost the textile industry in Uttar Pradesh. Those who are willing to invest in this sector will be given tax and other sops. The government has already made provisions for the same in its draft policy," said the CM.

Under the new policy, the government will give 100 per cent stamp duty exemption to those investors who buy 50 acres and above land to develop textile parks in the state. Investors will also get waiver on interest on loans taken for buying land and construction of staff quarters and hostels.