PM Modi approves mega textile park in UP, CM Yogi expresses gratitude
The Central Government approved the setting up of 'PM Mitra' (Prime Minister Mega Integrated Textile Region and Apparel) Park in seven states of the country. After this, the path has been cleared for the mega textile park to be built on 1000 acres in the state capital Lucknow at a cost of Rs 1200 crores.
Chief Minister Yogi Adityanath on Friday expressed immense gratitude to the Union Government for approving the mega textile park in Uttar Pradesh. The Central Government approved the setting up of 'PM Mitra' (Prime Minister Mega Integrated Textile Region and Apparel) Park in seven states of the country. After this, the path has been cleared for the mega textile park to be built on 1000 acres in the state capital Lucknow at a cost of Rs 1200 crores, informed the government through a release on Friday.
Through this, all the work and facilities related to the textile industry will be available on the same premises. Also, it will prove to be a boon for the artisans, weavers and handicraftsmen of UP. The government is expecting an investment of Rs 10,000 crores through this mega textile park.
Chief Minister Yogi Adityanath through Twitter said that the dedication of Prime Minister Narendra Modi for the achievement of the resolution of 'Make in India' and 'Make for the world' is commendable. "Gratitude to the Prime Minister on behalf of 25 crore residents of the state for this gift to Uttar Pradesh. This textile park, which is going to be established in Uttar Pradesh under the visionary leadership of the Prime Minister, will give a new identity to the textile industry of the state, as well as create investment possibilities worth crores of rupees and create lakhs of jobs," said Yogi Adityanath after the approval from the Central government.
The Yogi government will form a Special Purpose Vehicle (SPV) to get it off the ground. Rs 10 crore (paid-up capital) has been arranged for this, in which 51 per cent share will be from the Uttar Pradesh Government, while 49 per cent share will be from the Government of India. The textile park will be developed on the PPP model. Free land will be made available to the Handloom and Textiles Department for this. Additional Chief Secretary, Department of Handloom and Textiles, Government of Uttar Pradesh will be appointed as the Chief Executive Officer (CEO) in the SPV on behalf of the Central Government and the State Government and the Secretary, Ministry of Textiles, Government of India will be given the responsibility of the Chairman. The proposed name of the SPV will be "Sant Kabir PM Mitra Textile & Apparel Park Limited". Approval has been accorded by the Council of Ministers for setting up the project. The park is expected to generate around 1 lakh direct and 2 lahks indirect employment.
Yogi government is spending about Rs 700 crore on behalf of the state government to strengthen the textile industry in the state with the aim of creating maximum employment. For this, not only has the UP Textile and Garmenting Policy-2022 been promulgated but a budgetary provision of Rs 150 crore has also been made for financial facilities to the investors in the textile sector and youths starting new self-employment. Along with this, the Yogi government has made a provision of Rs 175 crore under the Garmenting Policy. Apart from this, a provision of Rs 345 crore has been made for providing electricity at subsidized rates to power loom weavers of the state, Rs 20 crore for Chief Minister Power Loom Industry Development Scheme and Rs 10 crore for Chief Minister Weaver Solar Energy Scheme. Not only this, the work of strengthening the textile industry in the state is going on continuously, arranging about Rs 18 crore for the Jhalkari Bai Kori Handloom and Power Loom Development Scheme.
During the recently concluded Uttar Pradesh Global Investors Summit 2023, the Yogi Government received more than 1,000 investment proposals in the textile sector alone, in which leading textile companies like Aditya Birla Group are also eager to invest in UP. The government has so far received investment proposals worth more than Rs 53,000 crores in the textile sector in UP, which is expected to create more than 2 lakh 46 thousand jobs. Now, after getting the approval of Mega Textile Park in UP, not only spinning, weaving, dyeing and printing but also garment manufacturing will be done in one place. Rather, its marketing and market arrangements will also be from here.
Along with this, export facilities will also be available here. With all the facilities in one place, the cost of logistics will also be saved. Till now the entire infrastructure of the textile industry scattered in different areas will be made available in this park with the latest technology. (ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)